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Savings for You, a discount retail chain, is highly competitive. When entering a new
market, Savings for You often cuts prices so deeply that it sells below costs, effectively
pushing smaller companies with less purchasing power out of the market. Savings for
You is most at risk of being accused of ________.
A) skimming prices
B) price-fixing
C) predatory pricing
D) deceptive pricing
E) loss leader pricing
A marketing manager would most likely use which of the following to find out how
many consumers stay with his brand and how many switch, enabling him to project
market shares over time?
A) modeling software
B) syndicated research
C) cross-sectional research
D) exploratory research
E) competitive intelligence
________ include convenience products, shopping products, specialty products, and
unsought products.
A) Fast moving consumer goods
B) Consumer products
C) MRO products
D) Industrial products
E) Component products
________ is the execution format that depicts typical people using the product in an
everyday setting.
A) Lifestyle
B) Fantasy
C) Slice of life
D) Testimonial
E) Demonstration
In which of the following situations would personal selling be the LEAST cost-effective
choice?
A) a manufacturer selling a line of running shoes to a chain of department stores
B) an automobile dealer selling luxury cars
C) a real estate agent selling a home
D) a chain of supermarkets selling convenience products
E) a computer systems firm selling hardware and software to a large business
According to the BCG growth-market share matrix, ________ are strategic business
units with products that have low market shares in fast-growth markets.
A) dogs
B) exclamation points
C) cash cows
D) stars
E) question marks
Many airlines now sell tickets almost exclusively through online third-party vendors.
This is an example of a ________ strategy.
A) distribution
B) return on marketing investment
C) marketing control
D) product
E) promotional
________ are manufactured goods or subassemblies of finished items that organizations
need to complete their own products.
A) Component parts
B) Accessory equipment materials
C) Processed materials
D) MRO products
E) Raw materials
According to the BCG growth-market share matrix, ________ are strategic business
units with products that have a dominant market share in a low-growth potential
market.
A) dogs
B) exclamation points
C) cash cows
D) stars
E) question marks
The coordination of marketing communication efforts to influence attitudes or behavior
is known as ________.
A) promotion
B) advertising
C) marketing
D) public relations
E) the communication model
Which stage in the product life cycle is characterized by rapidly increasing sales and
increasing profits?
A) introduction
B) youth
C) growth
D) maturity
E) development
Tony Pool Chemical Co. purchased 144 buckets of chlorine tablets over the Internet
from Chemical, Inc., then placed the order with the manufacturer and arranged for its
transportation by truck to the Tony Pool store. Chemical, Inc. took title to the pool
chemicals but never actually took possession of them. Chemical, Inc. is an example of a
________.
A) drop shipper
B) truck jobber
C) rack jobber
D) mail-order wholesaler
E) cash-and-carry wholesaler
Superior image, unique product features, and better service are all examples of
________.
A) brand personalities
B) brand positions
C) perceptual maps
D) competitive advantages
E) customer touchpoints
Which of the following is a form of protectionism?
A) joint ventures
B) bribery
C) extortion
D) collectivism
E) local content rules
When Gap, Inc. was developing the concept for its chain of Old Navy stores, the
company gave employees who fit the desired Old Navy customer profile $200 apiece.
They set them loose on a shopping spree, and then interviewed them about what they
purchased so these products would be on the Old Navy shelves when the stores opened.
Gap, Inc. utilized what format of participant sampling?
A) probability sampling
B) systematic sampling
C) stratified sampling
D) nonprobability sampling
E) simple random sampling
Yelp and TripAdvisor are both examples of ________.
A) virtual worlds
B) location-based social networks
C) product review sites
D) social networking sites
E) avatars
Marketers need to understand the ________ environment of a country from two
perspectives: the overall level of development of a country and the current stage of its
business cycle.
A) political and legal
B) sociocultural
C) economic
D) technological
E) natural
Baby Boomers ________.
A) were born between 1965 and 1978
B) are currently in their 30s and 40s
C) are important to marketers because of the size and wealth of the segment
D) are 75 or older
E) are the parents of Generation X, not Generation Y
Because family needs and expenditures change over time, marketers may consumers by
________.
A) age
B) generation
C) family life cycle stage
D) social class
E) psychographics
The "m" in m-commerce stands for ________.
A) market
B) mobile
C) message-oriented
D) millennial
E) mass
SwimFit produces gear for swimmers, including suits, goggles, swim caps, and ear
plugs. SwimFit wants to improve the quality of its goggles to match or surpass the
quality of the product category leader. Which of the following is SwimFit most likely to
use to find out more about how its competitor's product is made?
A) syndicated research
B) customer insights
C) predictive technology
D) mystery shoppers
E) reverse engineering
A commission merchant would most likely sell which of the following?
A) agricultural products
B) extractive materials such as coal and iron
C) convenience goods such as gum and candy
D) fresh fruits and vegetables
E) real estate
Your new-business sales force is responsible for prospecting and qualifying customers.
Which of the following will likely occur?
A) The number of qualified customers will exceed the number of prospects.
B) The new-business sales force will call on all prospects.
C) A salesperson may have to approach many qualified customers just to make one sale.
D) Salespeople will only contact all of the customers they research in the preapproach
stage.
E) Order takers will take responsibility for the approach and sales presentation steps.
There is a trend in the United States toward rediscovering the flavor of regional cooking
and the use of locally grown ingredients. People are choosing to spend hours in the
kitchen using only the freshest ingredients to recreate culinary traditions. This change in
________ is one of the reasons the number of farmers markets in the United States has
increased by 70 percent in the last decade.
A) the family life cycle
B) lifestyles
C) demographics
D) personality
E) social class
Tony wanted to buy a pair of binoculars, but not just any brand. He wanted to buy a pair
of Steiner Nighthunters, just like the pair he had learned about in his newest copy of
Peter's Hunt Magazine. He had to visit five different sporting goods stores before he
found this brand. For Tony, the Steiner Nighthunter is an example of a(n) ________.
A) specialty product
B) staple
C) shopping product
D) convenience product
E) unsought product
________ is the assignment of a product's value, or the amount the consumer must
exchange to receive the offering.
A) Promotion
B) Price
C) Benefit
D) Need
E) Utility
Marketers use the metric of ________ to see how engaging a website is to visitors in
terms of the extent to which visitors explore it.
A) clickthrough rate
B) conversion rate
C) bounce rate
D) sentiment analysis
E) market share
________ is made up of the values, beliefs, customs, and tastes produced or practiced
by a group of people.
A) The family life cycle
B) Culture
C) Lifestyle
D) Psychographic data
E) Social class
Which of the following is NOT true about the SERVQUAL scale?
A) SERVQUAL is not used to assess competitors' service quality.
B) The SERVQUAL scale is usually administered in a survey format.
C) Firms often track SERVQUAL scores over time to measure how their service quality
has improved.
D) SERVQUAL measures five dimensions of service quality.
E) The SERVQUAL scale remains a popular tool for measuring customer perception of
service quality.
The manufacturer's suggested retail price is also referred to as the ________.
A) break-even price
B) marginal price
C) list price
D) markup
E) markdown
Beautiful actresses appear in ads testifying to the quality of a brand of hair coloring
products. This is an application of which learning theory?
A) operant conditioning
B) cognitive dissonance
C) hierarchy of needs
D) classical conditioning
E) observational learning
The Four Ps are ________.
A) price, product, place, and promotion
B) price, profit, production, and possession
C) product, production, possession, and promotion
D) product, promotion, price, and profit
E) place, production, process, and profit
Trade or functional discounts are offered by manufacturers to which of the following?
A) channel intermediaries who perform wholesaling tasks that the manufacturer would
otherwise have to perform
B) consumers who earn a price reduction for buying in bulk
C) intermediaries who pay their bills before they are due
D) manufacturers that agree to exclusive distribution contracts
E) the government market and other organizations that require bid proposals
Southern Security makes safes for storing valuables such as jewelry and family records.
When Ed sold safes for the company, he had to be prepared with a response when a
prospect said, "I have no room for a safe" or "My family heirlooms aren't valuable
enough to put in a safe." In other words, Ed had to ________.
A) prepare several different closings
B) use a canned sales presentation
C) treat each sale as a transaction
D) utilize cold calling
E) anticipate objections
