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The number of sales representatives who report to a first-level sales manager is referred
to as:
a. span of control.
b. locus of control.
c. sphere of influence.
d. hierarchy.
The NAICS categorizes the business marketplace into more detailed market segments
compared to the SIC system and can be used across borders.
a. True
b. False
The business cycle refers to the pattern of stages in the level of economic activity:
prosperity, recession, depression, and recovery. During periods of prosperity, consumers
are willing to spend ___________, and during periods of recession, consumers are
willing to spend _____________.
a. Less, more
b. More, less
c. More, more
d. Less, less
e. The same, less
According to the BCG matrix, cash cow businesses produce strong cash flows and
invest heavily in the unit’s own promotions and production capacity.
a. True
b. False
A(n) _____ is a tentative explanation for a specific event.
a. big data
b. exploratory research
c. secondary data
d. primary data
e. sampling
f. hypothesis
g. simple random sample
h. interpretative research
i. focus group
j. marketing decision support system
k. key performance indicator
l. predictive analytics
m. metrics
n. marketing research
o. quota sample
p. test marketing
q. cluster sample
r. data mining
s. convenience sample
t. controlled experiment
_____ are trade barriers designed to raise the retail price of an imported product to
match or exceed that of a similar domestic product.
a. Subsidies
b. Revenue tariffs
c. Protective tariffs
d. Import quotas
Institutions are a major component of the business market that:
a. tend to have greater financial resources than industrial customers.
b. consist of wholesalers and retailers, who sell the products they buy to final
consumers.
c. include wide variety of organizations that often have diverse buying practices.
d. acquire products mainly to indirectly support the production of other goods and
services.
A company’s ability to market a product successfully at a higher price compared to its
competitors is directly related to its:
a. market capitalization.
b. product relevance.
c. brand equity.
d. market share.
When products require creative efforts on the part of the salesperson such as extensive
explanation and interaction, the best sales method is usually:
a. telemarketing.
b. field selling.
c. over-the-counter selling.
d. indirect selling.
Which of the following is a feature of marketing efforts at the third level of relationship
marketing?
a. They are least likely to lead to a long-term relationship between the buyer and seller.
b. They are more likely to be focused on geographic segmentation rather than
psychographic segmentation.
c. They try to motivate consumers to buy products by offering financial incentives.
d. They focus on developing a dependance between buyers and sellers.
_____ is the process of dividing a B2B market into homogeneous groups based on
buyers’ products specifications.
a. merchandisers
b. trade industries
c. remanufacturing
d. nearshoring
e. end-use application segmentation
f. global sourcing
g. joint demand
h. inelastic demand
i. outsourcing
j. value analysis
k. gatekeeper
l. commercial market
m. reciprocity
n. vendor analysis
o. category advisor
p. modified rebuy
q. demographic characteristics based segmentation
r. influencers
s. buyer
t. customer-based segmentation
Which of the following is one of the top products sold online?
a. Event tickets
b. Food items
c. Video games
d. Books
The cognitive component of attitude essentially deals with feelings or emotional
reactions.
a. True
b. False
Distributors adjust for discrepancies in the market’s assortment of goods and services
through a process known as _____.
a. benchmarking
b. sorting
c. diffusing
d. social referencing
The RobinsonPatman Act was passed to:
a. provide legal protection to individual merchants against competition from larger
chain stores.
b. increase competition in the telecommunications and utilities industry by
deregulation.
c. protect consumers by specifying safety standards for products.
d. maintain a competitive environment by prohibiting monopolization.
Communities created by social media help steer consumers toward new brands and
products.
a. True
b. False
A _____ is the overall, companywide program for selecting a particular target market
and then satisfying consumers in that market through the marketing mix.
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
Countries that export value- oriented products, rather than commodities, tend to enjoy
more stable prices.
a. True
b. False
Sydney is a marketing researcher for an advertising agency and is gathering _______
data from the Census Bureau to determine the characteristics of people living in a
3-county area within the state of Texas.
a. secondary
b. primary
c. federal
d. private
The buying behavior of an individual in a group is not only affected by the norms of the
group, but also by that individual’s role and status within the group.
a. True
b. False
A “_____” carries an item’s brand name or symbol, the name and address of the
manufacturer or distributor, information about the product’s composition and size, and
recommended uses.
a. brand mark
b. label
c. brand token
d. watermark
The headlines and illustrations in the print ad typically include the company name,
address, phone number, Web address, slogan, trademark, or simply a product photo.
a. True
b. False
Your boss at a bicycle manufacturing firm is unenthusiastic about making big
investments in emarketing, because he has little experience with it. You are determined
to change his mind, and give him examples of emarketing's potential. Which of the
following is not one of your examples?
a. Emarketing would enable us to reach cyclists around the globe.
b. Emarketing would enable us to customize bikes to meet customer specifications.
c. Emarketing would enable us to interact with customers and get their feedback.
d. Emarketing would make us more profitable.
e. Emarketing would enable us to provide our bikes exactly when cyclists need them.
A private exchange is also called cbusiness because of its relatively more collaborative
nature.
a. True
b. False
Producers and dealers whose sales volumes represent a substantial percentage of total
sales in the market area will be guilty of violating the Clayton Act if they enter into
exclusive dealing agreements.
a. True
b. False
One of General Electric’s business units produces a variety of light bulbs and generates
healthy revenue. The revenues of this business unit are used to finance the growth of
other business units with higher growth potentials. How would this unit be classified on
the BCG market share/market growth matrix?
a. Cash cow
b. Star
c. Question mark
d. Dog
_____ refers to the postsale activities employed by salespeople that determine whether
an individual who made a recent purchase will become a repeat customer.
a. sales maintenance
b. post-closing
c. dissonance reduction
d. follow-up
A marketing plan is a detailed description of the resources and actions needed to
achieve stated marketing objectives.
a. True
b. False
A stayathome mother, a high school senior, and a retired government employee are
considered unemployed if they do not have a job and don’t want one.
a. True
b. False
It is expected that the various social media platforms, tools and services will continue to
expand at a rapid pace in the years to come. As always, this kind of change will create
opportunities and risks for individuals and organizations. Within the context of
marketing, you should expect these changes will:
a. eliminate jobs in marketing.
b. cause marketing salaries to fall.
c. guarantee the success of marketing campaigns.
d. automate the marketing function.
e. create twoway conversations between marketers and customers.
Many firms attempt to promote stable prices by meeting competitors’ prices and
competing for market share by focusing on the nonprice elements of the marketing mix.
a. True
b. False
A company introduced a new low calorie version of one of its popular cold drinks. As a
result, the sales of the original cold drink started decreasing because consumers
preferred its low calorie version. This situation is known as:
a. product encroachment.
b. product centralization.
c. cannibalization.
d. polarization.
What are FCN treaties?
What are the various methods used by salespeople to close a sales process?
What is exporting? List out the various alternatives available for the first-time exporters
to enter foreign markets.
Define ethics and social responsibility. Why are these two concepts important for
marketers? Give an example of each behavior.
What is an MDSS? How is it different from an MIS?
Identify and describe four types of limited-function merchant wholesalers.
How can marketers help companies to meet their social responsibility? What impact
does social responsibility have on the public’s perception of an organization? Give
examples of companies that have undertaken socially responsible initiatives.
Define product line. Discuss some of the reasons why firms develop product lines.
What is meant by ebusiness? Name the five broad categories of ebusiness.
Identify and briefly describe the legal constraints placed on pricing.
What are social media analytics? Give two examples.
Explain how noise interferes with the effective transmission of a promotional message.
Define cognitive dissonance. How can marketers manage a consumer’s cognitive
dissonance?
How does planning differ at various levels of organizational management?
What is content marketing? What are the characteristics of an effective social media
marketing content?
List and describe the five types of AHead: Nontraditional Marketing. Give an example
of each.
Explain customary prices.
