To remain competitive, marketers must accurately gauge their customers and adapt to
changing consumer sentiment. Sometimes this adaptation calls for repositioning a
product or service. Why might a product or service be repositioned?
a. The marketing and research department is reduced by half due to the economic
downturn.
b. The product or service is considered the best available in the current market.
c. The company changes its packaging and uses a new slogan.
d. The product is unpopular and the company ceases production of it.
e. The company is aiming for a greater share of the current market.
In your new job, you will be responsible for upstream management of the firm’s supply
chain. This means you will be managing all of the following except:
a. Outbound logistics
b. Inbound logistics
c. Raw materials
d. Warehouse facilities
e. Storage facilities
The term _____ refers to different forms of electronic communication through which
users can create online communities to exchange information, ideas, messages, and
other content.
a. influencers
b. social networking sites
c. social media monitoring
d. app
e. online forum
f. demographics
g. social media tool
h. return on investment
i. microblog
j. social media marketing
k. social media
l. transparency
m. social media marketing plan
n. bookmarking site
o. social media strategist
p. social media analytics
q. social media platform
r. content marketing
s. social news site
t. QR codes
The function of informing, persuading, and influencing the consumer’s purchase
decision is known as _____.
a. noise
b. advertising
c. promotion
d. publicity
e. sales promotion
f. guerrilla marketing
g. posttesting
h. split runs
i. cooperative advertising
j. marketing public relations
k. media scheduling
l. pretesting
m. informative advertising
n. persuasive advertising
o. retail advertising
p. missiles
q. cross-promotion
r. interactive advertising
s. sponsorship
t. institutional marketing
Mike is a sales representative for Fastenal and calls on manufacturer accounts in his
territory. Most of the manufacturers utilize a just-in-time inventory system whereby
they rely on suppliers like Fastenal to maintain appropriate levels of stock so they can
minimize their inventory carrying costs and strive to balance the inventory in order to
ensure they have the right levels of inventory for their production. Mike provides
value-added services to assist these customers in identifying their inventory needs and
tracks the inventory levels to ensure the customer’s goals are met. This value-added
service is known as a(n):
a. vendor-managed inventory
b. key account selling
c. quick-response inventory management
d. customer relationship management
Which of the following distribution strategies seeks to distribute a product through all
available channels in a trade area?
a. Exclusive distribution
b. Associative distribution
c. Selective distribution
d. Intensive distribution
Cost per impression is a direct marketing technique that relates the cost of an ad to the
number of people who click it.
a. True
b. False
The first step in the sales process is to:
a. determine the potential customers.
b. identify the prospective customers.
c. advertise the product.
d. approach the potential customer.
_____ is a brief marketing message that appears before expected video content.
a. wiki
b. extranet
c. encryption
d. emarketing
e. private exchange
f. bot
g. search marketing
h. electronic signature
i. phishing
j. blog
k. clickthrough rate
l. conversion rate
m. electronic shopping cart
n. firewall
o. eprocurement
p. vishing
q. spam
r. podcast
s. preroll video ad
t. engagement
You recently raised your prices on the products you sell to your business customers. To
your surprise, your customers did not change the number of units they purchase from
you. It was as if the price increase did not matter to your customers. Which of the
following types of business demand most accurately describes this situation?
a. constant demand
b. inelastic demand
c. joint demand
d. elastic demand
e. derived demand
Niche marketing is best suited for firms that offer highly specialized goods and
services.
a. True
b. False
Which of the following is a dimension of Porter’s Five Forces model?
a. Bargaining power of buyers
b. Existence of secondmovers
c. Existing firms in the business environment
d. Rivalry among strategic business units
Yield management is strategic control of inventory. It maximizes revenue or profits
from fixed perishable resources.
What are the three rights of yield management?
a. right revenue at the right point of sale for the right items
b. right features at the right time for the right cost
c. right customer at the right time for the right price
d. right estimated price at the right location for the right time
e. right person at the right location for the right cost
Which of the following serves as a source of internal data for a firm involved in
marketing research?
a. Syndicated service firm reports
b. Marketing cost analysis
c. Census data
d. Business and trade magazines
Menards is known primarily as a home improvement store with lumber, plumbing,
paint, electrical, and tools as their most sought-after products. However, the store also
features a “grocery” section with milk, break, cereal, and other staple items in its store.
This is an example of __________, the practice of combining dissimilar product lines to
boost sales volume.
a. scrambled merchandising
b. retail convergence
c. retail confusion
d. diverse merchandising
Which of the following buying behaviors in the consumer markets is similar to
new-task buying in business markets?
a. Impulsive buying behavior
b. Limited problem solving
c. Extended problem solving
d. Routinized response behavior
An office supply wholesaler offers a 15 percent discount for retailers who purchase
goods worth $ 20,000 over a period of nine months and a 20 percent discount for
purchases worth $ 25,000 during the same time period. This is an example of a _____
discount.
a. trade
b. noncumulative quantity
c. cumulative quantity
d. recurring
Macy’s is a retail store that focuses on fashion-oriented merchandise, backed by a
complete array of customer services. It can be considered as a self-service store.
a. True
b. False
Channel conflicts can be defined as conflicts:
a. over revenue sharing between manufacturers and their workers.
b. among manufacturers, wholesalers, and retailers.
c. among customers and marketers regarding data privacy and information security.
d. between marketers and the government over legal issues.
Online shopping has been influenced by the increased availability of
_______________.
a. smart phones
b. blogging sites
c. digital signatures
d. consumer education
e. company websites
_____ explains that motivation depends on the aspirations people have of their ability to
perform a job, and how performance relates to attaining rewards they desire.
a. Marketing research
b. Maslow’s hierarchy of needs
c. Performance theory
d. Expectancy theory
Which of the following categories of organizations is most likely to have the longest
distribution channel?
a. Firms producing B2B products
b. Not-for-profit organizations
c. Firms producing nonperishable consumer goods
d. Service firms
In addition to traditional drug stores, Dr Scholl’s foot care company sells its products
through convenience stores as well as through telemarketing to podiatrists. Which of
the following is being employed by Dr Scholl’s foot care company to sell its products?
a. A reverse channel
b. Exclusive distribution
c. A direct channel
d. Dual distribution
The manager of an electronics and appliance store is challenged by the corporate office
to increase the use of repair and replacement policies for these products. Which
approach should the manager consider to meet the corporate office’s expectation?
a. increase the price of the policies until the market adjusts
b. install shop bots for customers to research product policies
c. bundle the repair and replacement policies as part of the sale price of the products
d. strategize for new product policies to be introduced alongside high-volume sale items
e. reduce the prices of popularly sold items and charge a higher fee for the repair
policies
When the same branded product is carried in competing retail pharmacies, discount
houses, department stores, and convenience stores, the marketing channel conflict that
can result is referred to as:
a. cross-channel conflict.
b. vertical conflict.
c. exclusive conflict.
d. horizontal conflict.
Odyssey is a website where the host regularly posts photos and articles on his favorite
travel destinations and his experiences therein. Users of the site are allowed to respond
or post comments on these articles. Odyssey is an example of a _____.
a. blogging site
b. social news site
c. database
d. bookmarking site
Marketers rarely encounter differences among members of a target group, as they
segment potential consumers into homogeneous groups.
a. True
b. False
The private sector has an even greater array of notforprofit organizations than the public
sector.
a. True
b. False
Not-for-profit organizations are considered to be a part of the business market.
a. True
b. False
Product lines, pricing decisions, selection of appropriate distribution channels, and
decisions relating to promotional campaigns are____.
a. fixed and unchanging
b. independent of the impact of external factors
c. dynamic in today’s boundaryless business environment
d. determined from a purely retrospective viewpoint
A cost that changes with the level of production is called a(n) _____ cost.
a. variable
b. fixed
c. average total
d. marginal
It is now possible to enter into legal contracts online, due to the development of:
a. the electronic shopping cart.
b. the electronic signature.
c. cloud computing.
d. data scrambling technology.
Environmental management rarely works because marketers cannot hope to influence
the external environment, they can only respond to changes in it.
a. True
b. False
Large-scale enterprises often have a dilemma with setting the _____ price, which is the
price they charge themselves when sending goods from one company profit center to
another.
a. list
b. transfer
c. removal
d. basing
Internal analysis in the benchmarking process establishes a baseline for comparison.
a. True
b. False
Identify and discuss the major categories of pricing objectives used by for-profit
organizations.
What are geographic information systems (GIS)? How do they help marketers in
analyzing marketing information?
Write a note on any two social media platforms.
Describe the three major personal selling approaches.
What is a strategic alliance? Explain the two ways in which strategic alliances are
structured.
Discuss each of the consumer rights presented by President John F. Kennedy.
What are the disadvantages of promotional pricing?
Explain the different roles played by business center participants in the purchasing
decision process.
Describe the process of exploratory research.
Explain with the help of an example how notforprofit organizations use social media to
market themselves to individuals or organizations.
What are the different types of agents and brokers?
Define distribution intensity and explain its three levels.
List the environmental characteristics that influence strategic decisions. What is the
“rule of three?” Provide an example of this phenomenon.
What is demarketing? Give examples of methods used by businesses to compensate for
limited resources.
What is a bot? How does it influence the online pricing of products?
Differentiate between a probability sample and a nonprobability sample. List out the
different types of probability and nonprobability samples.
Discuss the benefits a company receives when following a skimming pricing strategy.