A cash refund given for the purchase of a product during a specific period is called
a. cash discount.
b. quantity discount.
c. functional discount.
d. rebate.
Which change in advertising is due to the influence of social media?
a. The fewer ways in which marketers have direct conversations with customers
b. The unavoidable shift in focus to manufacturers
c. The interaction between producer and consumer that is now less about engaging and
more about entertaining
d. The audience who are often in control of the message, the medium, the response, or
all three
Which of the following characteristics of service is the least related to the display of
human behavior, interpersonal interaction, and knowledge?
a. Reliability
b. Assurance
c. Responsiveness
d. Tangibles
Tug Bark, a fast food chain from the United States, wants to open a branch in China. It
plans to change its menu to appeal to the Chinese palate. In this scenario, Tug Bark is
implementing the gap model of service quality.
a. True
b. False
Which of the following is a psychological factor that impacts consumer buying
decisions?
a. Social class
b. Learning
c. Age
d. Lifestyle
What kind of service processing does the airline industry address?
a. Information processing
b. Possession processing
c. Mental stimulus processing
d. People processing
Which of the following is true about joint ventures?
a. A joint venture is a risky way of entering a global market.
b. Joint ventures are usually the only way a government will allow a foreign company
to enter its country.
c. Joint ventures enable the local firm or government to acquire managerial skills and
new technology.
d. All of the above
MirrorSense is a social networking site that allows members to write their views and
opinions about various products, services, social issues, and more. However, members
on this website can write no more than 140 characters. In this case, MirrorSense is a(n)
_____.
a. ecommerce site
b. search engine
c. emagazine
d. microblog
Which of the following refers to the determination of a sales prospect’s recognized
need, buying power, receptivity, and accessibility?
a. Referral
b. Networking
c. Cold calling
d. Lead qualification
Blogs that are sponsored by a company or one of its brands and are maintained by one
or more company employees are called ___________ blogs.
a. corporate
b. noncorporate
c. personal
d. unprofessional
Warehouse space is an example of a thirdparty logistics company product.
a. True
b. False
Varion Air, an airline company, is providing a promotional offer to mark its first
anniversary. Customers will receive a complimentary ticket upon purchase of three
business class tickets. In this case, which of the following is a likely outcome of its
promotional strategy?
a. It will satisfy the customers and not the management of Varion Air.
b. It may be ineffective because the role of promotion in the marketing mix does not
apply to services.
c. It may increase the sales of Varion Air.
d. This particular promotion will work independently of the other three elements of the
marketing mix.
Which of the following statements is true of supply chain management in today’s
marketplace?
a. Supply chain management reflects a completely employeedriven management
philosophy.
b. Standardized products are “pushed” down through marketing channels to consumers.
c. Businesses focus on partnering with members of the supply chain to enhance
customer value.
d. Companies that focus on supply chain management commonly report high inventory
costs.
Which of the following is the second stage involved in creating an effective social
media plan?
a. Listen to customers.
b. Set social media objectives.
c. Define strategies.
d. Identify the target audience.
A rebate is a certificate that entitles consumers to an immediate price reduction when
the product is purchased.
a. True
b. False
Return on investment (ROI) for a firm is
a. the margin of profit earned by the firm inclusive of the taxes payable by the firm.
b. the firm’s total assets multiplied by net profits after taxes.
c. a measure of the firm’s effectiveness in generating profits with the available assets.
d. lower than the previous year if the firm has performed better in the market.
Vintage Travel provides a wide range of travelrelated services. Which of the following
can create a lasting image of their company in the minds of customers and potential
users, even without them using Vintage Travel’s services?
a. Give special discounts only for bulk bookings.
b. Use wellknown celebrities to endorse their services.
c. Give freebies to individuals who register on their website.
d. Use attractive logos, stationary, and office space.
Which one of the following is a hallmark of relationship marketing?
a. Aggressive sales techniques
b. Focusing on internal capabilities of the firm
c. Longterm focus on customer needs
d. Enhancing individuals’ and society’s longterm best interests
A consumer product is also known as an industrial product.
a. True
b. False
A firm’s belief that an ongoing relationship with another firm is so important that the
relationship warrants maximum efforts at maintaining it indefinitely, is _________.
a. trust
b. relationship commitment
c. a strategic alliance
d. engagement
Which of the following statements best describes simultaneous product development?
a. It is a strategy that provides general guidelines for generating, screening, and
evaluating newproduct ideas.
b. It is used to determine the reactions of potential customers in a market situation.
c. It is the process where all the involved areas work together rather than sequentially
during a product’s development.
d. It is a strategy that links the newproduct development process with the objectives of
the marketing department, the business unit, and the corporation.
A term that describes a company that customizes its products and services based on data
generated through interactions between the customer and the company would be
described as being ______.
a. customercentric
b. employeecentric
c. businesscentric
d. organizationcentric
Processed materials include capital goods such as large or expensive machines,
mainframe computers, blast furnaces, generators, airplanes, and buildings.
a. True
b. False
The utilitarian theory of ethical behavior is a belief in timeandplace ethics, that is,
ethical truths depend on the individuals and groups holding them.
a. True
b. False
Which of the following about the Great Recession is true?
a. The economy completely recovered from the Great Recession in 2009.
b. The Great Recession spread around the globe by 2008.
c. The middle class was the least affected by the Great Recession.
d. The Great Recession increased employment rates to almost 10 percent.
Which of the following is a social media metric that indicates the number of likes, fans,
followers, and friends; growth rates; rate of virality or pass along; and change in pass
along over time?
a. Buzz
b. Influence
c. Interest
d. Participation
Those who use RSS feeds to gather information and vote for websites online are
classified as:
a. collectors.
b. creators.
c. spectators.
d. joiners.
Which of the following statements is true of American teenagers?
a. They spend about six hours per week tuned in to electronic media.
b. They make the largest cohort group.
c. They prefer facetoface communication to communicating electronically.
d. They prefer Tumblr and Instagram to Facebook.
Rolls Royce cars target only the premium car market segment. This is a classic example
of:
a. multisegment targeting.
b. undifferentiated targeting.
c. differentiated targeting.
d. concentrated targeting.
A new category of promotional tactic based on brands becoming publishers of their own
content to maximize the brands’ value to customers is called ____________.
a. owned media
b. earned media
c. paid media
d. unpaid media
When two friends, who support two different political parties, only quote statistics that
support their favorite political party’s strengths but not its weaknesses, which type of
perception do they demonstrate?
a. Selective retention
b. Selective exposure
c. Selective distortion
d. Selective perception
Explain the product factors that affect which distribution channel is the best choice for a
company.
Identify three psychological factors that affect consumer buying decisions. Explain how
these factors influence consumers decisions and how marketers use this information to
successfully market their products and/or services to consumers.
Explain the differences between innovators and early adopters.
Explain strategic alliance and the factors that contribute to its longterm survival.
What is geographic segmentation? Briefly explain why consumer goods companies take
a geographic approach to marketing.
What is franchising and why are foreign fastfood franchises so popular? Discuss and
provide examples of successful international franchises.
Discuss the integrated marketing communications (IMC) concept and why is it needed.
What are the reasons for its growing popularity?
Discuss the concept of AIDA and its relevance for marketers.
When consumers search for information regarding a product or service that they are
interested in buying, what is the importance of a marketingcontrolled information
source?
Explain what is meant by shopping bots, identify several different types of these bots,
and discuss how they help consumers make purchase decisions.
Explain the difference between absolute and relative product failure. Discuss the
reasons why a large proportion of new product introductions fail.
How can the Internet be used to help implement simultaneous product development?
Describe the four promotion strategies that marketers use to promote services.
How do reference groups influence consumer buying decisions?
Discuss the three types of competitive advantages.
What is a supply chain orientation? Describe the five characteristics of supply
chain–oriented firms.
Define product and discuss the importance of product offerings in creating a marketing
mix.