Which of the following is an element of a marketing mix?
a. Pricing strategies
b. Divestment strategies
c. Investment strategies
d. Trade restraint strategies
Which of the following statements is true of markets?
a. They are composed of people or organizations.
b. They thrive only with government funds and subsidies.
c. They provide discounts for every consumer.
d. They influence consumers to buy products they do not need.
Which of the following statements is true of negotiation?
a. It plays an important role in the closing of the sale.
b. It is effective when price is used as a negotiation tool.
c. Salespeople increase the perceived value of a product when they quickly accept a
client’s price negotiation.
d. It is a formal meeting where salespeople present sales proposals.
Company websites, annual reports, reports to stockholders, blogs, YouTube videos, and
social media posts are examples of ___________.
a. secondary data
b. primary data
c. tertiary data
d. marketing research
The popularity of massive music festivals has created an opportunity for fans of
electronic dance music to get together and create their own _____.
a. social class
b. subculture
c. values
d. race culture
The value that a consumer expects to obtain from a purchase is called
__________________.
a. utilitarian value
b. hedonic value
c. perceived value
d. actual value
The Internet and the extensive use of social media have fueled the change in power
from consumers and business users to manufacturers and retailers.
a. True
b. False
Which of the following is NOT an advantage of newspaper as an advertising media?
a. High individual market coverage
b. Geographic selectivity and flexibility
c. Shortterm advertiser commitments
d. Wide color capabilities
A productionoriented firm is one that focuses on _______.
a. the needs and wants of the customers
b. aggressive sales techniques
c. enhancing individuals’ and society’s longterm best interests
d. the internal capabilities of the firm
When segmenting markets by age, Baby Boomers expect everything to be
instantaneous because they have always lived in a world with Internet.
a. True
b. False
Which of the following is NOT a component of AIDA model?
a. Attention
b. Demand
c. Interest
d. Action
The strategy in which an SBU preserves market share so that it can take advantage of a
very positive cash flow is called ______________.
a. divesting
b. holding
c. harvesting
d. building
A pointofpurchase (POP) display includes any promotional display set up at the
retailer’s location to build traffic, advertise the product, or induce impulse buying.
a. True
b. False
Because it denotes a high price relative to the prices of competing products, ______ is
sometimes called a “marketplus” approach to pricing.
a. price skimming
b. price fixing
c. status quo pricing
d. baitandswitch pricing
There are many scientific procedures for selecting segmentation variables to use in
identifying a market and there is no need for having market knowledge for segmenting
the market.
a. True
b. False
DutiLog Inc. is a company that specializes in providing warehouse space and
transportation solutions to a diverse group of firms. Given this information, DutiLog
Inc. is an example of a thirdparty logistics company.
a. True
b. False
Which of the following is always true of a factory outlet?
a. It works quite unlike an offprice retailer.
b. It is owned and operated by a manufacturer.
c. It stocks and sells a wide variety of merchandise.
d. It is the dominant retailer in its category.
The lifestyle characterized by choosing goods and services according to the activities
consumers engage in and the interests they express rather than conforming to a single,
traditional lifestyle is called a:
a. component lifestyle.
b. fad lifestyle.
c. career lifestyle.
d. military lifestyle.
Which of the following treats locationbased micronetworking as a game?
a. Facebook
b. Twitter
c. WordPress
d. Foursquare
Walmart outsourced portions of its transportation to C.H. Robinson and was thus able to
focus on merchandising rather than shipping. In this example, ______.
a. Walmart is a 3PL company
b. Walmart is a 4PL company
c. C.H. Robinson is a 3PL company
d. C.H. Robinson is a 4PL company
Market penetration refers to attracting new customers to existing products. Ideally, new
uses for old products stimulate additional sales among existing customers while also
bringing in new buyers.
a. True
b. False
Which of the following provides an accurate contrast of product life cycle lengths?
a. The PLC for a product form is usually longer than the PLC for any one brand.
b. The PLC for a product category is usually shorter than the PLC for any one product
form.
c. The PLC for a product form is usually equal to the PLC for the corresponding
product category.
d. The PLC for a product category is usually shorter than the PLC for any one brand.
Extranets enable buyers to quickly and easily compare products and prices, putting
them in a better bargaining position.
a. True
b. False
Which of the following statements is true of a marketing audit?
a. It should be carried out on a regular schedule.
b. It is always conducted by an inside party.
c. It covers just the trouble spots of an organization.
d. It is a process for implementing a marketing plan.
Which of the following forms of promotion is generally more prevalent during the early
stages of the product life cycle?
a. Informative promotion
b. Persuasive promotion
c. Relationshipbased promotion
d. All of the above are correct.
Which of the following happens if demand is elastic?
a. As price goes up, consumer demand changes.
b. The competition between organizations reduces.
c. Products will not have any substitutes.
d. The purchasing power of the consumer decreases.
Consumers can be influenced by reference groups only if they belong to those groups.
a. True
b. False
Careers often create a _____ for single parents.
a. poverty of time
b. want–got gap
c. cultural complexity
d. traditional life cycle
The AB group of hotels is keen on building relationships with customers. To ensure
success in this effort, the attitudes and actions of its employees need to be ________
oriented.
a. sales
b. production
c. customer
d. societal
The beginning of which stage of the product life cycle is signaled by a longrun drop in a
product’s sales?
a. Introductory stage
b. Growth stage
c. Maturity stage
d. Decline stage
Atwood Furnishers is experiencing a period when their sales are increasing at a slower
rate. The company realizes that new users cannot be added indefinitely and that, sooner
or later, its market will approach saturation. Which stage is the company now entering?
a. End of the decline stage
b. End of the introductory stage
c. Beginning of the growth stage
d. Beginning of the maturity stage
Which term refers to selling commodities of similar grade and quality to two or more
different buyers at different prices, within a reasonably short time, where the result
would be to substantially lessen competition?
a. Price discrimination
b. Price fixing
c. Bait pricing
d. Penetration pricing
Unlike trade sales promotion methods, consumer sales promotion methods are:
a. targeted at the ultimate consumer market.
b. directed toward members of the marketing channel.
c. focused on persuading consumers to make slow purchases.
d. concerned with offering free merchandise and store demonstrations.