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While determining the target audience for a particular social media marketing
campaign, marketers not only pinpoint the products which will best serve the group, but
also determine the social media that will be effective in delivering the message.
a. True
b. False
You know that your customers use social media to learn about your product and to
conduct research about it. But you don't believe they use social media to make final
purchase decisions. A coworker says you're wrong. What argument(s) does he make?
a. Online reviews are a primary driver of purchase decisions.
b. Social media create a new customerservice access point.
c. Consumers only discuss products on social media after making a final purchase
decision.
d. Consumers rely on social media to learn about products, conduct research, and make
final purchase decisions.
e. Online reviews are a growing but currently insignificant influence on final purchase
decisions.
Limited periods during which the key requirements of a market and the resources and
skills of an organization best fit together are called the _____.
a. planning
b. marketing planning
c. strategic planning
d. tactical planning
e. cash cows
f. first mover strategy
g. SWOT analysis
h. strategic window
i. marketing mix
j. product strategy
k. strategic business units
l. Porter’s Five Forces
m. marketing strategy
n. dogs
o. stars
p. annual growth rate
Brandon is an avid bicyclist and is interested in purchasing a new bike that's designed
specifically for people who compete in triathlons. Brandon reads product reviews
posted in online forums and decides to buy the Kestrel 4000, a carbon fiber bike that's
moderately priced at $2500. Which of the following best describes how product reviews
assisted Brandon in his purchase decision?
a. make a final purchase decision
b. identify a need
c. search for available options
d. learn about new products
Demand often shows:
a. more elasticity in the short run than in the long run.
b. less elasticity in the long run than in the short run.
c. the same elasticity in the short run and in the long run.
d. less elasticity in the short run than in the long run.
Mignon d’Armitage manufactures jewelry. This firm is planning to introduce a new
necklace and is trying to determine how many units it must sell in order to break even.
Fixed costs are $100,000 and variable costs for each unit will be $20. At the price of
$45 each, the number of units that must be sold in order to break even is:
a. 2,500.
b. 4,000.
c. 5,000.
d. 7,500.
Changes in an environment are most often the result of sudden crises.
a. True
b. False
Shopping products typically cost less than convenience purchases.
a. True
b. False
Production orientation is a business philosophy that stresses on the importance of
quantity of products rather than the quality of products.
a. True
b. False
A company that manufactures frozen food items is employing the shaping process to get
consumers to try its products. The free samples offered by the company along with
discount coupons have been received well by the consumers. The next step in the
shaping process is to:
a. motivate the customers to make repeat purchases at moderate costs.
b. entice the customers to buy the product at low prices with little financial risk.
c. sell the product at moderate costs with no additional discount coupons.
d. sell the product at its true price to the customers.
Sharon is purchasing a food processor and has done extensive research on all the
models available in the market. She is convinced about a particular product and is
trying to finalize a store from where to make the purchase. Sharon is in the _____ stage
of consumer decision process.
a. purchase decision and purchase act
b. search
c. postpurchase evaluation
d. problem recognition
_____ defines consumer groups according to variables such as gender, age, income,
occupation, and stage in the family lifecycle.
a. target market
b. market segmentation
c. cohort effect
d. primary metropolitan statistical area
e. differentiated marketing
f. concentrated marketing
g. micromarketing
h. positioning map
i. VALS
j. AIO statement
k. core region
l. consumer product
m. demographic segmentation
n. Pareto’s law
o. psychographic segmentation
p. geographic information systems
q. positioning
r. geographic segmentation
s. business product
t. mass marketing
Since rubber purchased by Goodyear is utilized to manufacture tires that are ultimately
used by consumers for their automobiles, rubber is a consumer product for Goodyear.
a. True
b. False
Advertising permits a low promotional expenditure per sales unit because it reaches
mass audiences.
a. True
b. False
You are watching an episode of a new game show that tests contestants' knowledge by
giving them phrases they must respond to with a question. The following phrase comes
up:
"Its purpose is to inform an organization about customers' needs and desires, marketing
opportunities for products, and changing attitudes and purchase patterns of customers."
What should be your response to the phrase?
a. What is marketing research?
b. What is conclusive research?
c. What is descriptive research?
d. What is experimental research?
e. What is a exploratory research?
The process of inviting potential suppliers to quote prices on proposed purchases or
contracts is known as _____.
a. competitive bidding
b. penetration pricing strategy
c. list price
d. trade discount
e. price flexibility
f. promotional pricing
g. loss leader
h. cannibalization
i. bundle pricing
j. odd pricing
k. transfer price
l. profit center
m. skimming pricing strategy
n. competitive pricing strategy
o. pricing policy
p. market price
q. noncumulative quantity discount
r. step out
s. bot
t. cash discount
Although the types of promotion may vary from a highly personalized sales
presentation to such nonpersonal promotions as television advertising and dollar-off
coupons, each goes through every stage in the communications process.
a. True
b. False
Jack is a research specialist who has spent six months conducting a detailed study of
customer attitudes and expectations. In writing the final report, Jack should remember
to:
a. include only the primary data collected as it is more specific for the current research.
b. direct his report toward the management and not other researchers.
c. elaborate on the technical details of the research methods in the introduction.
d. present the results to all key executives in separate meetings.
The biggest advantage of a physical distribution system is that its components are
independent and hence, a decision in one area is unlikely to affect the functioning of the
other components.
a. True
b. False
Which of the following is a characteristic which distinguishes profitoriented firms from
nonprofit organizations?
a. Profitoriented businesses tend to focus their marketing activities on one public their
customers
b. Notforprofit organizations seek to generate revenues above and beyond their costs to
make money for all stakeholders involved
c. Notforprofit organizations do not market tangible goods
d. Profitoriented businesses often operate as a monopoly in their industry
Notforprofit organizations use social media to:
a. learn about new methods of production.
b. connect with the general public, the business community, and each other.
c. learn about new goods and services.
d. lobby for political gains.
The establishment of the WTO, the passage of NAFTA, and the creation of the Euro are
examples of protectionism on the part of nations concerned with increased globalization
of the marketplace.
a. True
b. False
When a manufacturer quotes the same price for goods (including freight charges) to a
buyer in Miami, another in Los Angeles, and a third in Dallas, the seller is quoting a
_____ price.
a. uniform-delivered
b. destination
c. zone
d. basing-point
Marketing messages that appear before an online video are called _____.
a. widgets
b. interstitials
c. podcasts
d. preroll video ads
You are the new head of marketing for a large consumer products company in Texas.
You have spent your first two months on the job observing what the company does well
and not so well in terms of marketing. One area that you recognize is a major deficiency
is the company’s internal marketing approach and emphasis. You are a strong proponent
of effective internal marketing and you plan to emphasize it in your new role. You are
making a presentation to the executive management team on what internal marketing is
and how it will benefit the company.
Which of the following statements are you going to make in your presentation to the
executive management team about internal marketing?
a. It is the same as integrated marketing.
b. It emphasizes quick short-term results that investors like.
c. It guarantees a firm’s profitability.
d. Employee knowledge and involvement are important goals.
e. It is a replacement for e-marketing.
Trevor Miguel, a Mexican national, is relocating to America. He is in search of a house
and is following up closely with the realtor and his agents. Trevor would be involved in
which of the consumer problem-solving behaviors?
a. Routinized response behavior
b. Variety-seeking buying behavior
c. Extended problem solving
d. Limited problem solving
_____ is the process of reducing consumer demand for a good or service to a level that
a firm can supply.
a. environmental scanning
b. environmental management
c. competitive environment
d. timebased competition
e. economic environment
f. demarketing
g. consumerism
h. marketing ethics
i. social responsibility
j. green marketing
k. oligopoly
l. gross domestic product
m. planned obsolescence
n. inflation
o. socially responsible marketing
p. politicallegal environment
q. VoIP
r. discretionary income
s. antitrust
t. strategic alliance
The sales branch is a manufacturer-owned facility that:
a. provides space for permanent showrooms and exhibits which is used by manufactures
to market their goods.
b. does not carry inventory but serves as a regional office for a manufacturer's sales
personnel.
c. manufactures and packages goods to the order of its customers.
d. carries inventory and processes orders for customers from available stock.
The moral standards of behavior expected by a society are known as _____.
a. utility
b. buzz marketing
c. exchange process
d. seller’s market
e. buyer’s market
f. marketing myopia
g. social responsibility
h. relationship marketing
i. person marketing
j. place marketing
k. event marketing
l. organization marketing
m. interactive marketing
n. lifetime value of a customer
o. social marketing
p. onetoone marketing
q. strategic alliances
r. notforprofit organizations
s. ethics
t. mobile marketing
u. wholesalers
v. transactionbased marketing
The United States is an attractive market to foreign marketers as it does not require
foreign companies to pay corporate taxes.
a. True
b. False
A(n) _____ is an online journal for an individual or organization.
a. blog
b. social network
c. bulletin board
d. wiki
Which of the following modes of transportation ranks highest in terms of availability in
different locations?
a. Motor carriers
b. Railroads
c. Water freight
d. Pipelines
Jimmy Buffet is a popular singer, songwriter, entertainer and business owner of
Margaritaville Holdings. The company operates restaurants and hotels and also engages
in contracted relationships with other companies who use the Margaritaville name on
their products. Margaritaville foods are now available in the local grocery store
including items such as trail mix and frozen shrimp. Margaritaville is utilizing
________ to expand their exposure in the marketplace.
a. brand licensing
b. market penetration
c. line extensions
d. category extensions
Briefly explain the various types of relationship marketing efforts that focus on turning
customers from passive partners into active proponents of a product.
Explain the need for and the role of AHead: Marketing in NotforProfit Organizations.
Explain the different types of probability samples.
Compare and contrast marketing public relations with nonmarketing public relations.
Define nonpersonal selling. Discuss advertising as a type of nonpersonal selling.
How do retailers develop a marketing strategy?
Describe the four stages in the market segmentation process.
Discuss RFID and ERP systems as methods for streamlining and managing logistics.
Discuss national account selling. List some of its advantages.
What is a markup? What are the two marketing decisions that decide the amount of
markup? Explain why a markup is important to a marketer.
What are the questions that can help a company to determine a competitive strategy?
Discuss.
Discuss the legal problems associated with exclusive distribution.
What are the different criteria involved in the selection of a vendor in a business buying
process?
Explain market-share objectives.
List the four types of market structures based on the economic theory, and provide an
example of an industry or business for each of the four types.
Discuss the problems posed by the application of the three-way classification system of
convenience, shopping, and specialty goods and services.
Which particular challenge does the telecommunications industry face because of the
fast pace of product innovation? What steps are being taken to correct these barriers?
List out the four basic elements that help firms to build long-term relationships.
Define marketing intermediaries. Give two examples.
Explain the difference between a firstmover and a secondmover strategy. Give
examples of companies that have followed each strategy.
