Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
According to a study of brain scans, consumers who buy something at a discount price
experience less satisfaction than people who pay full price for the same product.
The simplest pricing method is break-even pricing: adding a standard markup to the
cost of the product.
Hispanic Americans tend to be brand loyal, especially to products made in their country
of origin.
PPG Industries is a producer of glass for windows. It likely sells its products in the
consumer market.
An environmental analysis is an important step in distribution planning.
A firm has a competitive advantage when it is able to outperform the competition,
providing customers with a desired benefit not provided by the competition.
A watch manufacturer added a watch to its product line that was higher priced than the
models it already carried. The company used a two-way stretch strategy.
Guerrilla marketing strategies can be used to achieve public relations objectives.
When a major moving van company sells accessory products (boxes, bubble wrap, etc.)
that must be used in moving a household's furniture, the company is practicing captive
pricing.
Wholesaling includes all the activities involved in selling goods or services directly to
final consumers for their personal use.
Reverse logistics are becoming even more important as more firms seriously consider
sustainability as a competitive advantage.
SWOT stands for strengths, willingness, opportunities, and threats.
Buzz works best when companies put paid consumers in charge of creating their own
messages.
A stock-keeping unit (SKU) is a unique identifier for each distinct brand.
The addition of sugar-free canned fruits to Del Monte's line of canned fruits and
vegetables is an example of a discontinuous innovation.
Purchase decision making usually begins with information search and then moves to
evaluation of alternatives.
Ria, a college sophomore, writes a daily blog that typically has over 50,000 readers
each week. Ria could be described as a microcelebrity.
Declining brand loyalty has led marketers to place less of their total marketing
communication budgets in sales promotions.
Each year, the majority of new products that are introduced fail.
The UPC is a global system of product identification.
A lagging indicator is a marketing metric used to analyze why a brand is losing market
share to a competitor.
A country that is shifting from an agricultural based economy to an industrial based
economy is known as a developing country.
Research design falls into the two broad categories of secondary research and primary
research.
Strategic business units (SBUs) are individual units representing different areas of
business within a firm that have their own missions, business objectives, resources,
managers, and competitors.
Today, it's most likely that companies selling unsought goods will use a selling
orientation.
In the United States, the advertising industry itself encourages honesty in advertising.
To calculate lifetime value, a company would estimate the amount of money a person
would spend with the company over a lifetime and then subtract what it will cost the
company to maintain this relationship.
Personal selling is less effective but more cost-efficient than advertising.
When marketers estimate a new product's commercial success, they are interested in
predicting whether it is technologically feasible to build the new product.
An entertainer such as Garth Brooks, a television show, and a magazine subscription are
all examples of products.
The talent agency that is trying to convince Berry College to hire a motivational
speaker for the college's homecoming festivities is marketing people.
Hershey introduced edible Valentine cards when it launched Hugs & Kisses Friendship
Exchange and packaged one white chocolate and one brown chocolate Kiss with
write-on "To" and "From" areas. This is an example of a market development strategy.
Very little of the online action in e-commerce is in business-to-business marketing.
When research findings have external validity, the findings of the study can be
generalized to the target market, not just the specific participants in the research.
Capacity management primarily deals with the intangibility characteristic of services.
Sales branches are independent wholesalers that are allowed to operate only in specific
geographical territories.
There will always be a need for channel intermediaries that physically handle the
product.
The VALS™ system is a crucial part of geodemographic segmentation.
A package delivery company sells intangibles to its customers.
The first phase of marketing planning is the development of a market position.
Kitchen dishcloths are often difficult to rinse clean and typically dry slowly. A company
developed a disposable kitchen cloth that rinses easily and dries quickly. Because this is
a new product to the market, it can be said to be in the ________ stage of its product
life cycle.
A) competitive
B) trial
C) introduction
D) growth
E) youth
In causal research, factors that might be responsible for causing a change are called
________.
A) predictive techniques
B) obtrusive measures
C) unobtrusive measures
D) dependent variables
E) independent variables
A customer's desire for a product coupled with the buying power or resources to obtain
that product is called ________.
A) benefit
B) demand
C) need
D) utility
E) service
Using which ethical philosophy would a marketer make the decision that provides the
most good or the least harm?
A) utilitarian approach
B) rights approach
C) fairness or justice approach
D) common good approach
E) virtue approach
A ________ orientation is a management philosophy that focuses on ways to satisfy
customers' needs and wants.
A) consumer
B) promotion
C) selling
D) production
E) quality
Terrible Tees is an online t-shirt company that invites consumers to enter their t-shirt
designs in a monthly contest. All visitors to the site are invited to vote on their favorite
design, and at the end of the month, the company produces and takes orders for the
t-shirt design with the most votes. This is an example of ________.
A) the wisdom of crowds
B) the production concept
C) the selling orientation
D) a folksonomy
E) a brandfest
A company uses a(n) ________ to allow certain suppliers, customers, and others
outside the organization to access its internal system.
A) corporate website
B) search engine
C) extranet
D) shopbot
E) intranet
Increasingly commonplace today is the appearance of two different franchise chains
under the same roof, such as Pizza-Hut and Taco Bell. This is an example of a(n)
________ marketing system.
A) administered
B) conventional
C) cooperative
D) vertical
E) horizontal
We consume ________ in the short term rather than the long term.
A) unsought products
B) specialty products
C) raw materials
D) durable goods
E) nondurable goods
In which step of the market planning process are decisions made concerning what
markets to target and what marketing mix strategies to use?
A) perform a situation analysis
B) develop marketing strategies
C) implement the marketing plan
D) control the marketing plan
E) develop marketing metrics
In a(n) ________ structure, there are a relatively small number of sellers, each holding
substantial market share, in a market with many buyers.
A) monopoly
B) oligopoly
C) monopolistic competition
D) perfect competition
E) natural competition
Which of the following types of retail stores would likely offer the broadest assortment
of merchandise and services?
A) convenience stores
B) factory outlet stores
C) specialty stores
D) box stores
E) hypermarkets
Which type of self-service store is a food store with a limited selection of items and few
brands per item?
A) convenience store
B) box store
C) specialty store
D) variety store
E) leased department store
Word of mouth or buzz on social media is also referred to as ________.
A) unaided recall
B) owned media
C) earned media
D) rich media
E) native advertising
Which of the following is NOT true about the SERVQUAL scale?
A) SERVQUAL is not used in connection with gap analysis.
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.
________ involves a retailer buying a product at a discounted promotional price,
warehousing it, and after the promotion has expired, selling the inventory to other
retailers at a price that is lower than the manufacturer's nondiscounted price but high
enough to turn a profit for the retailer.
A) Pushing
B) Forward buying
C) Diverting
D) Co-op buying
E) Rebating
When setting prices, a leading manufacturer of nutritional supplements decided to
institute a pricing strategy that would support a five percent increase in sales over the
next three years. What type of pricing objective has the company set?
A) profit
B) sales
C) competitive effect
D) cost-plus
E) value
Through ________, a firm tries to guarantee that its brand will appear at or near the top
of lists of typical search phrases related to its business.
A) cost per impression pricing
B) A/B testing
C) search engine optimization
D) search engine analytics
E) predictive analytics
A firm's capability that is superior to that of its competition is referred to as a(n)
________.
A) distinctive competency
B) added value
C) value proposition
D) value chain
E) social benefit
Which of the following is NOT among the ethical values identified in the American
Marketing Association's Ethical Norms and Values for Marketers?
A) Transparency
B) Citizenship
C) Equality
D) Honesty
E) Responsibility
A daycare center operator wanted to survey her parents to determine if they were
interested in the center providing once-a-month Saturday night care for their children.
Rather than survey all 254 parents, the operator took the list of parents' names and,
starting with the third parent's name, surveyed every twelfth parent. What type of
sampling did the daycare operator use?
A) simple random sampling
B) convenience sampling
C) stratified sampling
D) systematic sampling
E) non-probability sampling
The last stage in the product adoption process is ________.
A) awareness
B) adoption
C) interest
D) confirmation
E) evaluation
The product alternatives a customer seriously considers are referred to as the ________.
A) compensatory set
B) determinant set
C) evoked set
D) consideration set
E) evaluative criteria
After looking at the ads in her Sunday paper, Ruby decided to visit a local nursery and
buy potting soil for her plants at $1.99 a bag. The regular price is $4.99 a bag. While
Ruby was there she also purchased three bushes, six flowering plants, and a bird bath.
You can infer from this information that the nursery used the bags of potting soil as a
________.
A) loss leader
B) freemium
C) bait-and-switch
D) price line
E) reference price
Johnson Boats wants to introduce a new model of boat into mature markets in highly
developed countries with the goal of quickly gaining mass-market share. As a
consultant, you should recommend a ________ pricing strategy.
A) skimming
B) penetration
C) price leadership
D) cost-plus
E) value
Researchers design ________ to test predicted relationships among variables in a
controlled environment.
A) longitudinal assessments
B) statistical models
C) multidimensional scales
D) experiments
E) perceptual maps
A sign at a Tokyo hotel once read, "You are invited to take advantage of the
chambermaid," and a dry cleaner in Majorca urged passing customers to "drop your
pants here for best results." These are examples of ________ in global markets that
international market researchers must consider.
A) technological barriers
B) cultural differences
C) local customs
D) ethnocentric positions
E) language barriers
A(n) ________ is defined as a tangible good, service, idea, or some combination of
these that satisfies consumer or business customer needs through the exchange process.
A) augmented product
B) service
C) core product
D) product
E) innovation
Every six months, Doug is asked to fill out a survey asking when he expects to buy a
new vehicle and what type and model he plans to purchase. Doug, along with a group
of consumers with similar buying habits, has been participating in this survey for the
last eight years. The gathering of this quantitative data is an example of descriptive
research using ________.
A) a hierarchical format
B) a cross-sectional design
C) latitudinal tracking
D) a longitudinal design
E) ethnography
A(n) ________ is made on the spur of the moment without any planning or search
effort.
A) high-involvement purchase
B) commodity purchase
C) impulse purchase
D) unsought purchase
E) fast-moving purchase
Which of the following is a type of in-home selling?
A) the party plan system
B) network marketing
C) the pyramid system
D) e-commerce
E) experiential marketing
The Red Baron Gallery has provided funding to Georgia Public Television to help pay
for the rights to broadcast the Antiques Roadshow and is credited at the beginning of the
show for its financial support. This is an example of ________.
A) ambient advertising
B) a special event
C) a sponsorship
D) a sales promotion
E) guerilla marketing
________ are the tangible products that individuals purchase for personal or family use.
A) Consumer services
B) Consumer goods
C) Value propositions
D) Branded content
E) Industrial goods
France, Italy, and Germany boast sophisticated marketing systems and are three good
examples of ________.
A) preindustrial countries
B) least developed countries (LDCs)
C) developing countries
D) developed countries
E) BRICS countries
Truck jobbers are limited-service merchant wholesalers who would most likely handle
which of the following?
A) building materials
B) fruits and vegetables
C) coal and lumber
D) cosmetics
E) magazines
How does a marketing decision support system (MDSS) differ from a marketing
information system (MIS)? Why might a marketer want to use an MDSS in addition to
an MIS?
John Wanamaker, a famous retailer from the late 1800s, is credited with saying "Half
the money I spend on advertising is wasted; the trouble is, I don't know which half."
Explain the marketing issue highlighted by this quote and how marketing analytics
affects this issue.
How do consumers benefit from price bundling? Give an example of price bundling.
Compare the three product strategy choices a firm like General Electric has when
selling in foreign markets.
How do marketers define innovation?
Compare and contrast the four types of discount stores.
As a service provider, why might you perceive the buyer-seller interaction in the service
encounter to be especially critical?
What is the difference between ISO 9000 and ISO 14000?
With a CRM approach, how might a firm select different methods of contacting and
communicating with customers based on their value?
Why might a manufacturer choose to not select a large and powerful retailer as a
channel partner?
Explain the difference between the ethical philosophies of a rights approach and a
justice approach.
You are a sales manager and you are responsible for tracking a wide range of metrics
related to your firm. Explain in which part of the marketing planning process these
metrics would be determined and why they are important.
Discuss the social contact and physical dimensions of the service encounter, explaining
how marketers can use these dimensions to improve the quality of the service
encounter.
How could the Internet of Things benefit marketers?
Discuss how marketers can use virtual worlds to convey marketing communications.
Briefly explain the wheel-of-retailing concept.
A major manufacturer of bread sells its finished products to a grocery store chain. This
grocery store then sells the bread to its customers. What type of channel of distribution
is this, and what are the levels of distribution?
