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A product development strategy concentrates on finding new markets for existing
products.
a. True
b. False
Electronic signatures are used to enter into legal contract policies online.
a. True
b. False
It is essential for an organization to build and maintain internal partnerships in order to
meet the needs of its external partnerships.
a. True
b. False
The price of products only includes the costs incurred by the manufacturer for
procuring the raw material and for processing the products.
a. True
b. False
Statutes enacted in most states that once permitted manufacturers to stipulate a
minimum retail price for their product are called _____.
a. breakeven analysis
b. tariffs
c. unfair-trade laws
d. incremental-cost pricing
e. profit maximization
f. demand
g. value pricing
h. monopoly
i. elasticity
j. marginal
k. fair-trade laws
l. yield management
m. oligopoly
n. cost-plus pricing
o. full-cost pricing
p. supply
q. marginal analysis
r. target-return objectives
s. market-share objectives
t. pure competition
DHL has developed a reputation as an international business specialist enabling
companies who produce or distribute products to economically ship finished goods to
customers. Which function of marketing does DHL provide to companies?
a. transporting
b. selling
c. risk taking
d. selling
Quick-response merchandising is a just-in-time strategy that reduces the time
merchandise is held in inventory, resulting in substantial cost savings.
a. True
b. False
Trade between U.S. companies and their subsidiaries or between U.S. subsidiaries of
foreign-owned firms is referred to as:
a. multilateral trade.
b. mutual trade.
c. related party trade.
d. bilateral trade.
Purchasing decisions in the B2B sectors are more complex, take longer to negotiate,
and often include many levels of decision making.
a. True
b. False
When a firm contributes to environment protection and human welfare programs, which
type of behavior is it exhibiting?
a. Relationship marketing
b. Social responsibility
c. Economic neutrality
d. Onetoone marketing
The physical characteristics and amenities of a store that attract customers and satisfy
their shopping needs are referred to as _____.
a. stock-keeping unit (SKU)
b. markup
c. markdown
d. retail convergence
e. scrambled merchandising
f. atmospherics
g. broker
h. general merchandise retailer
i. category killer
j. rack jobber
k. supercenter
l. auction house
m. specialty store
n. retailers
o. mass merchandiser
p. truck jobber
q. direct marketing
r. drop shipper
s. planned shopping center
t. wheel of retailing
An event management company decided to use radio advertising in order to promote an
upcoming music festival. The executives of the company suggested various activities
that could be used for the radio campaign. These activities are a part of the company’s
_____.
a. tactical planning efforts
b. standard operating procedures
c. weekly scheduling plans
d. unitwise budgeting plans
Online forums are a source of information exchange and can take the form of blogs, a
classified ad directory, or a library of information.
a. True
b. False
Kate believes the reason the sales of one of her company’s products has fallen is due to
a price increase. She cites sales from the previous year to the same customers as
evidence of declining sales. Kate is:
a. developing a research design.
b. formulating a hypothesis.
c. identifying a symptom.
d. conducting exploratory research.
The jury of executive opinion not only gathers information from company executives,
but also from experts outside the firm such as academic researchers.
a. True
b. False
A syndicated service can also be considered a type of limited-service research supplier.
a. True
b. False
Firms rarely use test marketing for long lived durable goods.
a. True
b. False
Specialty retailers typically attract customers by offering the products at the lowest
possible prices.
a. True
b. False
In interactive marketing, the customer controls the amount and type of information
received from a marketer.
a. True
b. False
You are the manager for the consumer product adoption strategies department of your
firm. Your job requires you to manage the third stage of the five--stage consumer
product adoption process. Which of the following statements is true in regard to your
job focus?
a. You should focus on making sure buyers are aware of your product’s existence.
b. You should focus on encouraging the current buyers of your product to become
repeat buyers.
c. You should focus on making sure buyers clearly understand your product’s benefits.
d. You should focus on providing information about your product.
e. You should focus on encouraging buyers to just try your product.
A micropolitan statistical area will have at least one urbanized area of 50,000 or more
inhabitants.
a. True
b. False
Amazon boasts a very high _____ when using banner ads placed on CNN.com based
upon the percentage of people who are exposed to the advertisement and follow the link
to view the advertisement.
a. clickthrough rate
b. engagement
c. conversion rate
d. hosting rate
A multi-hospital healthcare system is considering using each facility’s clinical
laboratory to run the routine drug screening of new employees instead of outsourcing
the laboratory function to an independent vendor. What should the healthcare system’s
senior leadership consider before implementing this change?
a. the scope of drug screening each laboratory can perform
b. the amount of time employees will be absent from the work site
c. the fee to charge each profit center for the employees’ laboratory work
d. inviting each laboratory to submit a bid for the cost of the laboratory work
e. awarding the work to the laboratory with the highest fee to promote prestige among
the employees
Which of the following is an example of a bookmarking site?
a. PistonHeads.com, which allows users to share information related to automotive
industry and also buy/sell cars.
b. Linkswarm.com, which allows users to save, organize, and manage links to their
favorite websites
c. LiveJournal.com, which allows users to write articles on their experiences and
favorite topics and share it with other users.
d. NowPublic.com, which allows users to post news articles and videos.
At the _____ stage in the consumer adoption process, potential buyers begin to seek
information about the product.
a. trial
b. evaluation
c. interest
d. adoption
Successful internal marketing efforts create satisfied employees who spread positive
word-of-mouth messages to relatives, friends, and acquaintances.
a. True
b. False
Sue is the daughter of a salesman, but she knows that her job in the same field will be
different from her father's. Unlike many sales professionals in the past, Sue is likely to
experience:
a. Working in a team
b. Prioritizing customer service over quick sales
c. Prioritizing quick sales over customer service
d. A more dominant role for personal selling in the marketing mix
e. A less dominant role for personal selling in the marketing mix
Households with two wage earners are more likely than others to make joint purchasing
decisions.
a. True
b. False
Which of the following is the oldest form of promotion?
a. Product placement
b. Personal selling
c. Guerrilla marketing
d. Ambush marketing
The term _____ is used by marketers to refer to the visual components that contribute to
the overall look of a brand.
a. water mark
b. brand token
c. service mark
d. trade dress
Unit trains run back and forth between single loading points and single destinations to
deliver a commodity.
a. True
b. False
Which of the following comes closest to providing pure service?
a. A retail store
b. An automobile dealership
c. A coffee shop
d. A fitness gym
A firm which has significant operations and marketing activities outside its home
country is referred to as a(n) _____.
a. exporting
b. WTO
c. infrastructure
d. exchange rate
e. tariff
f. import quota
g. dumping
h. ISO certification
i. foreign licensing
j. multinational corporation
k. global marketing strategy
l. multidomestic marketing strategy
m. countertrade
n. related party trade
o. exchange control
p. customs union
q. CAFTA-DR
r. importer
s. embargo
t. franchise
Companies often adapt their pricing strategy from one foreign market to another and
modify pricing when market conditions change.
a. True
b. False
According to the BCG market share/market growth matrix, _____ typically require
more cash than they generate.
a. cash cows
b. stars
c. question marks
d. achievers
What is an advertising campaign? How do you think current technology might help a
marketer with the success of an advertising campaign?
Describe predictive analytics and how it is used by marketers.
Distinguish between inbound and outbound telemarketing.
How does social media marketing differ from traditional marketing?
What are the different types of planned shopping centers?
Differentiate between a high-involvement purchase decision and a low-involvement
purchase decision. Give an example for each.
What are the potential problems associated with offshoring and outsourcing?
Define dual distribution. Why do marketers usually adopt a dual strategy? Give some
examples of firms that employ dual distribution.
Explain the essence of marketing.
Explain the differences between frequency marketing and affinity marketing programs.
Give an example of each.
Differentiate between value analysis and vendor analysis. Give an example for each.
Distinguish between a corporate website and a marketing website.
Differentiate between B2B marketing and consumer product marketing.
List out the different positioning approaches followed by marketers. Give an example
for each.
Describe the significance of yield management.
Discuss product advertising, institutional advertising, and corporate advertising.
What are the challenges associated with conducting marketing research in global
markets?
