Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
A mission can be defined as an essential purpose that differentiates one company from
others.
a. True
b. False
The performance framework developed by the Boston Consulting Group (BCG) plots:
a. market share against market growth potential.
b. market attractiveness against number of product lines.
c. current market conditions against past trends.
d. performance in test markets before a fullscale rollout.
Justin is a sales representative for Hormel Foods and is meeting with the buyer for a
regional grocery store chain. Hormel has recently introduced a new snack product that
will be merchandised in the deli or meat section of the grocery store. Justin has a
marketing allowance that can be utilized to promote the new product and gain
acceptance or space in the store. A term for this type of fee is:
a. slotting allowance
b. marketing expense
c. retailer fee
d. new product fee
A(n) _____ is a component of an MIS that links a decision maker with relevant
databases and analysis tools.
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
When you first learn that your firm’s new Chief Marketing Officer has announced a
major push to collaborate with international suppliers, you are confused. In your last
job, suppliers were viewed as adversaries who were always increasing their prices and
driving up the company’s costs. But in a podcast distributed to all employees, you feel
the CMO effectively explains this move as part of a broader relationship marketing
strategy. Which point(s) does she make?
a. She has identified a group of vendors who regularly discount their prices.
b. By collaborating with international suppliers, she hopes to create a price discounting
model that will improve relationships with US suppliers.
c. The company can avoid certain US taxes by buying from suppliers abroad.
d. She plans to use strategic alliances with suppliers to create competitive advantages.
e. This move involves a nontraditional supply strategy, which goes hand in hand with a
relationship marketing strategy.
Jorge plans to buy a car and discusses the purchase with his parents. Their influence on
his buying decision is considered:
a. impersonal.
b. interpersonal.
c. personal.
d. institutional.
It's not only the government that regulates what toys your store can sell to children.
Nongovernmental regulatory forces include:
a. Public consumer interest groups focused on protecting kids
b. Private consumer interest groups focused on protecting kids
c. Selfregulatory organizations
d. Better Business Bureau
e. Consumer Product Safety Commission
It was not until the introduction of the Chevrolet Nova in Mexico that marketers
realized “no va” in Spanish means “won’t go.” This linguistic error demonstrates how
Chevrolet overlooked cultural differences in its product introduction.
a. True
b. False
Missionary selling is an indirect sales approach that focuses on promoting goodwill for
the firm.
a. True
b. False
Aaron Corporation is an insurance firm that provides a range of consumer directed
health insurance products. The company has detailed personal information of its
patients including their date of birth, email address, health related and occupation
details, and address. Which of the following types of software can the company use to
protect the consumer information from hackers?
a. Spyware
b. Shopbot
c. Webtrends Analytics
d. Firewall
Advertising that reinforces previous promotional activity by keeping the name of a
good, service, organization, person, place, idea, or cause before the public is called
_____ advertising.
a. ambush
b. reminder
c. informative
d. guerrilla
Your Pies Inc. supplies desserts to restaurants. Its purchasing decision makers are
subject to many influences; among the most important are the state of the economy, the
cost of flour, food safety regulations, and competition. All of these influences have
certain characteristics in common. They are:
a. internal
b. external
c. environmental
d. interpersonal
e. organizational
The practice of adding a percentage of specified dollar amount—or markup—to the
base cost of a product to cover unassigned costs and to provide a profit is known as
_____.
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
If Sunbeam were to develop a new coffee machine and brand it as “The Coffee Maker,”
the company would not be able to register the term as its trademark because:
a. the trademark must contain the company’s name to be registered.
b. using “the” in the trademark makes it exclusive to a particular manufacturer.
c. the term describes a particular type of product.
d. the trademark should always be an acronym.
Firms engage in precall planning to understand the needs and preferences of the
customer before making a presentation.
a. True
b. False
In the absence of other cues:
a. many buyers interpret low prices as signals of high-quality products.
b. price offers no clue of a product's quality to prospective purchasers.
c. price is an important indicator of product quality to consumers.
d. the relationship between price and quality holds true only in declining economies.
To identify varying items within a product line, retailers refer to a specific product
offering as a(n) _____.
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
During which phase in the business cycle do marketers consider lowering prices and
increasing promotions that include special offers to stimulate demand?
a. Prosperity
b. Recession
c. Growth
d. Maturity
Relationship marketing can help a company:
a. create longterm and costeffective links with individual customers and suppliers for
mutual benefit.
b. reduce its strategic planning effort since the need for such planning is greatly
diminished by relationship marketing.
c. locate more effective media for use in advertising and mass marketing.
d. eliminate the strategic planning process and move into tactical plans directly.
Lockheed Martin won the largest military contract ever by proving it could be the first
company to develop and fly a new model plane. This illustrates the importance of
_____.
a. rapid prototyping of new products
b. demarketing
c. timebased competition
d. the legal environment
To be most effective, the planning process should include input from a wide range of
sources both internal and external to the organization.
a. True
b. False
Brand-building efforts to generate or enhance consumers’ perceptions of value in a
product, brand, or organization can be measured over the short term.
a. True
b. False
Tactical plans typically determine an organization’s primary strategic objectives and
exclude shortterm actions from their purview.
a. True
b. False
Infomercials are a form of telemarketing.
a. True
b. False
_____ describes the wide range of transactions taking place via Internet applications
such as email and virtual shopping carts.
a. Webonomics
b. Ebusiness
c. Web servicing
d. Digital transcription
The success or failure of a product is independent of the competitive environment.
a. True
b. False
The interactions at the first level of relationship marketing are most likely to lead to a
long-term relationship.
a. True
b. False
_____ constitute the regular expenses a firm incurs in its daily operations.
a. Impulse products
b. Installations
c. Supplies
d. Accessory equipments
A 30-second television advertisement for Allstate uses the popular "Mayhem" character
as "the world's worst cleaning lady." The ad is an example of _______ advertising and
strives to encourage customers to talk to an Allstate Agent to make sure they have the
right home protection: Good Hands. Good Home.
a. reminder
b. persuasive
c. informative
d. institutional
Experts recommend that marketers refrain from scheduling content more than a week
away in order to avoid confusion that might arise owing to shifts in consumer
responses.
a. True
b. False
_____ is a type of primary research in which a researcher observes a customer or a
group of customers in their natural setting and interprets their behavior based on an
understanding of the social and cultural characteristics of that setting.
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
Product line pricing is the practice of marketing merchandise at variable prices
negotiated between buyer and seller.
a. True
b. False
