_____ is a Webbased system that enables all types of organizations to improve the
efficiency of their bidding and purchasing processes.
a. Private exchange
b. Electronic data interchange
c. Extranet
d. Eprocurement
Products that can be produced, used, and disposed of with minimal impact on the
environment are called:
a. nonrenewable products.
b. biogradable products.
c. sustainable products.
d. modulated effluents.
_____ can lead to a damaging downward spiral, causing a freefall in business profits,
lower returns on most investments, and widespread job layoffs.
a. Deflation
b. Lower interest rates
c. Inflation
d. A federal budget surplus
Which of the following is a strategy in which a retailer shares advertising costs with a
manufacturer or a wholesaler?
a. Cooperative advertising
b. Corporate advertising
c. Institutional advertising
d. Community advertising
An organizational objective should specify time frames stating “Our organization aims
to generate a 15 percent profit over the next 24 months.”
a. True
b. False
Amazon.com maintains a record of each customer’s purchases and makes
recommendations based on purchase behavior whenever the customer logs in for the
next purchase. This is an example of the interactive marketing capability of ebusiness.
a. True
b. False
When a business pays for the use of an equipment owned by an outside supplier for a
specified period of time, the process is known as:
a. outsourcing.
b. supply inversion.
c. leasing.
d. nearshoring.
You work for an automobile manufacturing company that has received millions of
dollars in loans and grants. Your CEO wants the company to invest in marketing
strategies that push your company to the forefront in the market. While you think direct
marketing may be an efficient way to go, you want the company to leave an indelible
mark, so you come up with other ideas.
Which of the following choices would you make about your company’s marketing
strategy?
a. use guerilla marketing tactics
b. get a celebrity endorsement
c. invest in interactive advertising
d. sponsor a recreational car racing event
e. invest in a new stadium that showcases the company name
Which of the following factors is a characteristic of a long marketing channel?
a. Manufacturers with broad product lines
b. Durable and inexpensive products
c. Marketers with a small and concentrated market
d. Manufacturers that cater to large orders of their products
The A.G. Harding company has been charged with price discrimination under the
federal Robinson-Patman Act. Which of the following would be the best defense
against the charge?
a. The price differential is justified as they do not exceed the cost differences resulting
from selling to various classes of buyers.
b. The price differential is justified as it reflects the efficiency of its sales personnel.
c. The price differential is justified because the company is a leader in the specific
product market.
d. The price differential is justified as the company’s products comply with the ISO
standards.
Market leaders are more likely to engage in comparative advertising than new entrants.
a. True
b. False
The Delphi technique is preferred by marketers because it is quick, inexpensive and
works best for short-run forecasting.
a. True
b. False
Wholesaling intermediaries tend to reduce the number of transactions between buyers
and sellers.
a. True
b. False
Which of the following is true of the Hispanic population in the United States?
a. They have mostly descended from families who have lived in the United States for
many generations.
b. They tend to be younger than the typical Americans.
c. They are a homogenous group.
d. They do not use mobile apps on a regular basis.
During the process of market segmentation, finalizing the marketing strategy and tactics
helps firms to determine the costs of marketing and the expected level of resources it
must commit.
a. True
b. False
Elger Labs introduced the MPMAN F10 in 1998 which is regarded as the world’s first
MP3 player featuring only 32 MB of memory in 1998. Other competitors entered the
market and the Apple iPod made its debut in 2001 and included a 1.8inch Toshiba 5GB
hard drive and a large blackandwhite display. The model retailed for $400 and it was
only compatible with Mac computers. The early brands are no longer available and the
iPod has become the market leader. What type of strategy did Apple employ with its
introduction of the iPod in 2001?
a. second mover strategy
b. first mover strategy
c. strategic window strategy
d. competitive differential strategy
At a time when computer users were having trouble storing, sending, and displaying
photos, Apple introduced the iMac computer, which was equipped with a digital camera
interface and photohandling software. This product was a result of Apple recognizing
its:
a. economies of scale.
b. competitive constraints.
c. strategic window.
d. secondmover benefits.
The _____ serves as a forum for trade negotiations, and mediates trade disputes
between countries throughout the world.
a. FTAA
b. GATT
c. EU
d. WTO
Bailee works approximately 60 hours each week as an account executive with an
advertising agency and rarely has time to shop. She loves the _______ of shopping
online and is a VIP customer with Zappos. She can order shoes or clothing and receive
the item within 24 hours delivered right to her door by UPS with free delivery.
a. convenience
b. personalized service
c. competitive pricing
d. product assortment
There are a number of strategies that you can use to position your company’s
technology product in the mind of the consumer. You decide to focus your advertising
campaign on the perception that your product is what the others aspire to be–the best.
Which of the common categories for product positioning are you using to develop your
marketing campaign?
a. application
b. usage rate
c. attributes
d. product class
e. product user
As a new salesperson, you are concerned with how your decisions will affect your
customers, your sales team, and your company. You notice that many of your
workmates accept gifts and perks from clients, even though that practice is frowned
upon by management and discouraged according to what you have read in the
handbook. Some colleagues have been reprimanded for accepting gifts from customers
just in the short time you have been with the company. What will be your focus
regarding ethical business practice?
a. unreported ethics violations
b. lax example of management
c. personal ethical behavior
d. permissive corporate culture
e. lack of a written code of ethics
Short-run or long-run pricing objectives of achieving a specified return on either sales
or investment are known as _____ objectives.
a. prestige
b. volume
c. target-return
d. market-share
Personal selling is a less important component in the promotional mix when individual
orders account for large amounts of revenue.
a. True
b. False
The wheel of retailing attempts to explain the patterns of change in retailing.
a. True
b. False
YouTube offers viewers the option to share a video they have watched by sending it to
one or more contacts in their email address books. Which of the following types of
marketing is being used this case?
a. Frequency marking
b. Viral marketing
c. Internal marketing
d. Lateral marketing
Connor is an account manager or sales representative with Sherwin Williams. He
typically calls on facility managers in hospitals, office buildings, apartment complexes
and schools to discuss their paint and specialty coating needs. He’s talking with his aunt
at Thanksgiving and trying to explain the difference between his role as a sales
representative and the counter or inside sales representative that his aunt might
encounter within the Sherwin Williams retail store. Which of the following
characteristics might be true for Connor in his role as a B2B sales representative with
Sherwin Williams?
a. Connor’s relationships with customers would last longer
b. Connor’s customers can quickly make decisions
c. The purchasing decision for Connor’s customers is very simple
d. Connor typically works with only one person or decision-maker withing the buying
organization
A consolidated metropolitan statistical area comprises of two or more primary
metropolitan statistical areas.
a. True
b. False
The employees or departments within an organization whose success depends on the
work of other employees or departments are referred to as _____.
a. strategic alliance
b. relationship marketing
c. cobranding
d. frequency marketing
e. value chain
f. database marketing
g. exponential smoothing
h. customer relationship management
i. trend analysis
j. internal customers
k. comarketing
l. quick-response merchandising
m. affinity program
n. lifetime value of a customer
o. Delphi technique
p. national account selling
q. transaction-based marketing
r. customer churn
s. buzz marketing
t. grassroots marketing
Which of the following terms refers to the process of collecting and using information
for marketing decision making?
a. Market engineering
b. Marketing research
c. Market capitalization
d. Marketing sampling
Marketers focus their efforts on setting clear goals in the initial step of a social media
marketing campaign because:
a. it helps buyers make final purchase decisions.
b. it helps everyone involved in the campaign to aim their efforts in the right direction.
c. it is effective in engaging the target audience in a conversation.
d. it helps marketers to have control over the content of the marketing message received
by the audience.
A storage warehouse assembles and redistributes goods, keeping them moving as much
as possible.
a. True
b. False
International Business Machines decided to brand its products under its acronym IBM.
From a marketing perspective, this was a smart idea because as a brand name, IBM:
a. is easy to pronounce, recognize, and remember.
b. is easy to translate into any language.
c. accurately describes the products it manufactures.
d. can easily be expanded to suit innovative advertising campaigns.