Omega Inc. makes lightweight sunglasses with 100-percent UV protection for people
who love to hunt, hike, and ride bikes. The company’s long-term plans include the
development of lenses that, in addition to protecting users from UV rays, would help
reduce lens spotting through effective water-sheeting methods. This new feature would
be valuable to people who fish. Given the rising popularity of recreational fishing in the
United States, Omega products clearly have a huge market potential. In terms of a
SWOT analysis, Omega has recognized a market ________.
A) weakness
B) strength
C) threat
D) opportunity
E) challenge
Which of the following questions is NOT of major concern regarding marketing
channels?
A) What role do physical distribution and supply chain management plan in attracting
and satisfying customers?
B) What impact do marketing channels have on the profitability of the firm and its
partners?
C) How do channel firms interact and organize to do the work of the channel?
D) What problems do companies face in designing and managing their channels?
E) What is the nature of marketing channels, and why are they important?
Which of the following is true about the territorial sales force structure?
A) The territorial sales force structure does not define each salesperson’s job clearly.
B) Salespeople specialize in selling only a small portion of the company’s products.
C) In a territorial sales force structure, separate sales forces are set up for different
industries.
D) Travel expenses are relatively small as each salesperson travels within a limited
geographic area.
E) In a territorial sales force structure, separate sales forces are often established to
handle a single, large account in every territory.
Which of the following is true with regard to marketing research?
A) The marketing research process depends primarily on sophisticated internal
databases.
B) The marketing research process requires assessing macroeconomic forces.
C) Marketing research gives marketers insights into customer motivations.
D) Marketing research eliminates the need for a SWOT analysis.
E) Marketing research is a simple two-step process.
From an industry point of view, Universal Pictures film studio might see its competition
as ________.
A) West End theatre
B) Columbia Pictures
C) Tomorrowland
D) Summerfest
E) HarperCollins
A large retailer of home improvement and construction products offers “how-to” classes
for do-it-yourselfers, featuring instructions on how to complete home improvement
projects using products sold at its stores. This is an example of how the retailer has
differentiated itself through its ________.
A) product assortment
B) services mix
C) segmentation
D) atmosphere
E) pricing
Refer to the scenario below to answer the following question(s).
Fun-Spot Fun Park began as a small amusement park in 1985. With nothing more than a
merry-go-round, a slide, pony rides, and an ice cream stand, Fun-Spot grew into a
popular family attraction with 20 rides, a restaurant, and an outdoor performing arts
theater.
“My wife, Gail, and I didn’t know what we were getting into,” commented Ron Hart,
the owner. “We just knew that weekenders coming to the lakes in our rural area
represented an untapped market.”
Today, thousands of visitors flock to Fun-Spot: families, children of all ages, and even
senior citizens who enjoy strolling through the gardens and the arbors. “There’s
something here for everyone,” Gail Hart said with a smile. “Dozens of companies hold
annual company picnics here. We have welcomed class field trips. And we even had
one wedding here at the park!”
“Here’s the funny thing,” Ron chimed in. “We really don’t know why we’ve been so
successful. There is nothing else like Fun-Spot Fun Park in the area. We were just
lucky.” “I think it’s the ambience of the park that has brought so many visitors,” Gail
added. “We provide a ‘total package’ of entertainment. Plus, we try to change our rides
and various attractions from time to time for variety.”
Ron and Gail Hart admitted that making every visitor happy is a priority. “That has
always been our philosophy,” they said. “Like the park’s motto at the entrance reads,
‘We’re here to make you happy!’ And we’ve always been able to deliver on that because
we’ve never allowed ourselves to grow too big too quickly.”
Ron and Gail, owners of Fun-Spot, strive to provide new offerings and entertainment
options for their visitors. This type of strategy can be best described as ________.
A) market penetration
B) market development
C) product development
D) niche marketing
E) diversification
At a local farmers’ market, Molly Malone sells mussels while shouting to passersby,
“Fresh seafood, get your fresh seafood here!” What kind of perspective is Molly taking?
A) customer-driving
B) inside-out
C) customer-driven
D) outside-in
E) niche marketing
According to the Boston Consulting Group approach, ________ serves as a measure of
company strength in the market.
A) relative market share
B) product development
C) market diversification
D) product attribute
E) market segmentation
In what situation is a complex sales force structure used?
A) when a company sells a narrow variety of products to few types of customers over a
broad geographic area
B) when a company sells a wide variety of products to many types of customers over a
broad geographic area
C) when a company sells a wide variety of products to many types of customers over a
small geographic area
D) when a company sells a wide variety of products to few types of customers over a
small geographic area
E) when a company sells a narrow variety of products to many types of customers over
a small geographic area
Developing an effective integrated marketing mix program involves coordinating price
decisions with product design, promotion, and ________ decisions.
A) distribution
B) production
C) assembly
D) warranty
E) competition
The simplest pricing method is ________ pricing.
A) value-based
B) fixed cost
C) cost-plus
D) target return
E) competition-based
Which of the following is the most likely result of a marketing strategy that attempts to
serve all potential customers?
A) All customers will be delighted.
B) Customer-perceived value will increase.
C) All customers will directly turn into customer evangelists.
D) Not all customers will be satisfied.
E) Customers will not show interest in any other company’s products.
A charitable trust’s appeal which states, “While you are trying to figure out what to get
the man who has everything, don’t forget the man who has nothing” is an example of
a(n) ________ appeal.
A) structural
B) awareness
C) rational
D) moral
E) standard
Which of the following variables are the most popular for marketers to use in
segmenting customer groups?
A) ethical
B) psychographic
C) demographic
D) behavioral
E) geographic
Which of the following marketing strategies is most suitable for smaller firms with
limited resources?
A) mass marketing
B) undifferentiated marketing
C) niche marketing
D) differentiated marketing
E) one-to-one marketing
Eric Mason, an employee of Huntington Steelworks, is responsible for defining product
specifications and providing relevant information for evaluating alternatives in his
organization’s buying center. Eric, whose opinions affect the buying decisions of his
organization to a great extent, is most likely a(n) ________.
A) user
B) influencer
C) decider
D) gatekeeper
E) buyer
________ is defined as analyzing, planning, implementing, and controlling sales force
activities.
A) Benchmarking
B) Sales force management
C) Business intelligence
D) Sales force automation
E) Sampling
Electron Corp. purchased Proton Corp. by buying all of its assets and ownership equity.
This is an example of a(n) ________.
A) new product development
B) acquisition
C) joint venture
D) licensing contract
E) divestment
Advertising is a good way to ________, inform, and persuade.
A) educate
B) create
C) define
D) engage
E) harvest
People cannot focus on all of the stimuli that surround them each day. A person’s
tendency to screen out most of the information is called ________.
A) subliminal retention
B) selective distortion
C) cognitive dissonance
D) selective attention
E) cognitive inertia
Companies often fail to integrate their various messages to consumers because
________.
A) historically, consumers have been able to distinguish between message sources
B) advertising departments are reluctant to work with public relations professionals
C) communications often come from different parts of the company
D) personal selling and sales promotion are in direct conflict
E) firms have overemphasized the concept of brand contact
Some fast-food restaurants offer tasty and convenient food at affordable prices, but in
doing so they contribute to a national obesity epidemic and environmental problems.
These fast-food restaurants overlook the ________ philosophy.
A) marketing concept
B) product concept
C) production concept
D) societal marketing concept
E) selling concept
Which buyer-readiness stage are consumers in when they are feeling favorable about
the product?
A) preference
B) conviction
C) knowledge
D) purchasing
E) liking
Until retailers ________ their markets, they cannot make consistent decisions about
product assortment, services, pricing, or advertising.
A) create
B) communicate with
C) divide up
D) define and profile
E) design products for
A(n) ________ consists of one or more independent producers, wholesalers, and
retailers, each seeking to maximize its own profits, sometimes even at the expense of
the system as a whole.
A) multitiered supply chain
B) conventional distribution channel
C) intrinsic market matrix
D) resource bank
E) product platform
________ means marketing a product in a foreign market without making any changes
to the product.
A) Product adaptation
B) Product invention
C) Communication adaptation
D) Straight product extension
E) Product augmentation
LandPort Transportation and Omega Warehousing help companies move and stock
goods from their manufacturing plants to their destinations. These two businesses are
examples of ________.
A) resellers
B) marketing services agencies
C) financial intermediaries
D) physical distribution firms
E) wholesalers
A federal agency ordered a fast food chain to stop running ads with false claims that its
fried chicken is compatible with certain weight loss programs. Which agency had the
authority to issue this order?
A) the Federal Trade Commission
B) the Food and Drug Administration
C) the Consumer Product Safety Commission
D) the Environmental Protection Agency
E) the American Marketing Association
Minimizing pollution from production and all environmental impacts throughout the
full product life cycle is called ________.
A) aesthetic consumerism
B) sustainability vision
C) product stewardship
D) beyond greening
E) pollution prevention
Needs include all of the following EXCEPT ________.
A) food
B) knowledge
C) affection
D) the newest iphone
E) belonging