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Which of the following would qualify as an example of a firm’s weakness?
a. A bill passed by the government regarding the work timings of all organizations
b. A competitor planning to open a new branch close to the firm’s place of operations
c. The firm’s failure to pay its taxes on time leading to a poor reputation in the market
d. A ban imposed on the use of animals for testing cosmetics
Marketers applying a positioning strategy want to:
a. make their product look as much like the market leader as possible.
b. emphasize a product’s unique advantages and differentiate it from competitors’
options.
c. identify the different product attributes desired by different market segments.
d. target only the loyal users of the product.
When a men’s clothing store sells suits at four price levels ($295, $455, $525, $650),
the store’s retail policy is _____ pricing.
a. unit
b. promotional
c. product-line
d. psychological
The majority of online consumers use social media to make purchase decisions.
a. True
b. False
Rangers, a firm that provides a towing service, boasts of a very consistent performance
track record and promises a quick and good quality service “anytime, anywhere.”
According to this information, Rangers is focusing on which of the following variables
of service quality?
a. Reliability
b. Sympathy
c. Empathy
d. Substitutability
The most obvious distinction between notforprofit and forprofit organizations is:
a. not forprofit organizations have more exact marketing goals.
b. notforprofit organizations have a different view of what constitutes the bottom line.
c. customers of notforprofit organizations have more control.
d. notforprofit organizations market services not goods.
Microsoft Windows generates considerable income for its parent company but is
expensive to support. However, the expense is acceptable because Windows is the
world's dominant operating system. Based on this information, Windows would be
categorized under the BCG market share/market growth matrix as a:
a. star.
b. cash cow.
c. question mark.
d. dog.
In the past, surveys have been used as a primary tool to collect data. Marketers thought
that if they wanted to know what people want, it was enough to just ask. People do not
always answer honestly, however, and sometimes people don't know what they want or
why they make the decisions they do. To understand why people do the things they do
and the real-life context that surrounds consumer decisions and behaviors, marketing
professionals sometimes choose to live the life of their target customers.
Which of the following type of research is described above?
a. marketing research
b. descriptive research
c. exploratory research
d. interpretive research
e. ethnographic research
Which of the following has ended total monopoly protection for most utilities like
natural gas, electricity, water, and cable TV service?
a. Deregulation movement
b. Disinvestment
c. Temporary monopoly
d. Perfect competition
Retailers such as Home Depot and Lowe’s, who offer to meet and beat the best price
offered by their competitors, use the strategy of _____ pricing.
a. skimming
b. penetration
c. competitive
d. cost-plus
Consumers are influenced by their ____________ or meaning of the incoming stimuli
that they receive from each of the five senses: sight, smell, touch, taste, and hearing.
The ___________ are the mental filtering processes through which all inputs must pass.
a. perceptions; individual factors
b. individual factors; perceptions
c. perceptual screens; perceptions
d. perceptions; perceptual screens
e. perceptual screens; individual factors
Operational planning:
a. should be used to establish the fundamental strategies of the organization.
b. is used to determine departmental rules and procedures.
c. is the primary responsibility of the top management.
d. should be completed at the same time the total budget is prepared.
You begin every work day by stopping by the local premium coffee shop for a latte.
They recognize you when you come in and just hand you your regular order. Recently, a
number of events happened at the same time: you got a promotion with a higher salary;
your regular coffee shop increased its prices; and a competitor moved into the same
shopping center, offering lower prices.
Required:
During your vacation, you have the luxury of time to reflect on your workday pattern of
coffee consumption. Looked at from a marketing perspective, which action could you
choose to show that your demand is more elastic?
a. spending some of your higher income after the promotion
b. demonstrating that you are a loyal customer of your current coffee shop
c. asking for a good-customer discount from your regular place
d. discovering that you enjoy the taste of the competitor's coffee
e. returning to the comfort of your established routine
Julia noticed that her favorite shampoo is being packaged in a slightly larger bottle for
the same price as the standard size bottle. This is an example of a:
a. bonus pack.
b. premium.
c. sample.
d. de facto rebate.
The overall health of the economy has a significant impact on consumers’ ability and
willingness to purchase goods and services. The most reliable measure of the
economy’s health is the sum of all final goods and services produced in the country in a
given period. This measure is called____________.
a. National income
b. Gross national product
c. Consumer expenditures
d. Gross domestic product
e. Corporate profits
For the first time, your company is implementing the tool called benchmarking to set
performance standards. In a memo you received introducing the new effort, you noticed
an error. Which of the following statements was (were) wrong?
a. Benchmark analyses establish a baseline for comparison.
b. Benchmark analyses can be internal or external.
c. This approach provides an objective basis for making improvements.
d. Implementing changes for quality improvement is part of the benchmarking process.
e. The ultimate goal of benchmarking is to achieve competitive advantage.
Sales representatives often mimic or imitate the behavior of other sales representatives
or managers in their company. If one or more individuals displays unethical behavior
and is not reprimanded for their actions, other sales representatives or managers may be
tempted to engage in similar unethical actions.
a. True
b. False
Managers often find it difficult to estimate demand at various price levels.
a. True
b. False
The target market for a product is the specific segment of consumers most likely to
purchase that particular product.
a. True
b. False
A standardized marketing mix with minimal modifications that a firm uses in all of its
domestic and foreign markets is called a(n) _____.
a. exporting
b. WTO
c. infrastructure
d. exchange rate
e. tariff
f. import quota
g. dumping
h. ISO certification
i. foreign licensing
j. multinational corporation
k. global marketing strategy
l. multidomestic marketing strategy
m. countertrade
n. related party trade
o. exchange control
p. customs union
q. CAFTA-DR
r. importer
s. embargo
t. franchise
The use of information technology to analyze information about customers and their
transactions is referred to as _____ marketing.
a. frequency
b. affinity
c. database
d. internal
Demand characteristics remain the same across business and consumer markets,
although the marketing techniques tend to vary.
a. True
b. False
Should your cooks be considered customers of your restaurant? Why or why not?
a. No, because they are not allowed to eat what they cook.
b. Yes, because their family members get discounts.
c. No, because they are employees.
d. No, because they eat there for free.
e. Yes, because their work impacts the overall value delivered by the restaurant.
The government’s Do Not Call Registry exempts callers representing notforprofit
organizations and political candidates.
a. True
b. False
You just opened a retail pet supply store, and have decided to use a penetration pricing
strategy. A potential investor, however, is dismayed by your decision. To win her over,
which of the following points should you make?
a. Demand for pet supplies is highly elastic.
b. Demand for pet supplies is highly inelastic.
c. A new store needs to focus on attracting shoppers.
d. Market-minus pricing would be inappropriate in the pet supply market.
e. The new store's introductory prices can be changed later in its life cycle.
Product features that consumers consider while choosing among alternatives are known
as the:
a. evoked sets.
b. evaluative criteria.
c. heuristics.
d. problem sets.
The antitrust laws in the United States were designed to protect the interests of
organizations having monopoly positions.
a. True
b. False
The criteria for sales evaluations have changed to include customer satisfaction, profit
contribution, and customer retention as measures of success. This change was
motivated by:
a. complaints from upper-level management about the cost of commission-based
compensation programs.
b. difficulty in recruiting competent employees because of the variability of sales
personnel's compensation.
c. reluctance to encourage sales personnel to develop new accounts.
d. an increasingly long-term orientation that results from greater quality management
and customer relationship building efforts.
Groups whose value structures and standards influence a person’s behavior are known
as reference groups.
a. True
b. False
In the VALS system, action-motivated consumers are those who:
a. have a set of ideas and morals or principles they live by.
b. are influenced by symbols of success.
c. seek physical activity, variety, and adventure.
d. have high energy level and are eager to buy products.
An evoked set is limited in case of an immediate need.
a. True
b. False
Marketing accessory equipments requires continuous representation and dealing with
the widespread geographic dispersion of purchasers.
a. True
b. False
How is online marketing different from emarketing?
a. Online marketing encompasses financial transactions in addition to promotion of
sales, as opposed to emarketing.
b. Online marketing is applicable to both goods and services, while emarketing is for
goods alone.
c. Online marketing is limited to interactive computer systems, while emarketing
encompasses technologies not involving computers.
d. Online marketing is suited for geographically smaller regions, while emarketing
provides the benefits of a truly global reach.
The use of big data has created new companies that collect and analyze information and
sell their proprietary software to all types of businesses.
a. True
b. False
