________ are consumer products and services with unique characteristics or brand
identification for which a significant group of buyers is willing to make a special
purchase effort.
A) Shopping products
B) Unsought products
C) Specialty products
D) Capital items
E) Convenience products
________ ventures consist of one company joining forces with foreign investors to
create a local business in which they share ownership and control.
A) Joint ownership
B) Licensing
C) Contract manufacturing
D) Management contracting
E) Indirect exporting
Subcultures include nationalities, religions, geographic regions, and ________.
A) genders
B) ages
C) professions
D) racial groups
E) income levels
________ refers to a measure of the sensitivity of demand to changes in price.
A) Price elasticity
B) A demand curve
C) Price-value equation
D) Marginal utility
E) Income elasticity of demand
Distribution channel decisions frequently require long-term commitments between
firms. A primary reason is that ________.
A) advertising is not easy to change
B) old products are difficult to discard and new products are difficult to introduce
C) when they set up distribution through franchisees, independent dealers, or large
retailers, they cannot readily replace these channels with company-owned stores or
Internet sites if conditions change
D) changing the manufacturing requirements is expensive and takes significant time
E) management does not want to be constantly changing the method of selling and
distributing its products
________ play an important role in efficiently making products available to target
markets in the needed varieties and quantities.
A) Virtual banks
B) Intermediaries
C) Price consultants
D) Uniform-delivery networks
E) Upstream partners
The buyer decision process consists of five stages. Which of the following is NOT one
of these stages?
A) need recognition
B) information search
C) conspicuous consumption
D) purchase decision
E) postpurchase behavior
Reasons for a price increase include all of the following EXCEPT ________.
A) a desire to improve profits
B) cost inflation
C) when the alternative is rationing of the product
D) decreasing gross margins
E) increasing supply of product
Digital promotions have grown in usage and include e-mail, social media, Web sites,
and ________.
A) demonstrations
B) displays
C) store flyers
D) newsletters
E) online ads and video
An invitation to go skiing over the weekend forced Donna to look at her current
wardrobe. She realized that she required a warmer coat. Which of the following stages
of the buyer decision process does Donna exemplify?
A) product evaluation
B) situational analysis
C) need recognition
D) problem screening
E) information search
________ are people within a reference group who, because of special skills,
knowledge, personality, or other characteristics, exert influence on others.
A) Opinion leaders
B) Innovators
C) Surrogate consumers
D) Stealth marketers
E) Lagging adopters
Which of the following is LEAST likely a characteristic of business-to-business
e-procurement?
A) greater access to new suppliers
B) lower purchasing costs
C) quick order processing and delivery
D) an increase in the derived demand
E) less paperwork
In a(n) ________, executives are trained in worldwide operations, not just domestic or
international operations.
A) direct exporting company
B) joint venture
C) international division
D) international subsidiary
E) global organization
What is the most common type of agent wholesaler?
A) wholesale merchant
B) industrial distributor
C) limited-service wholesaler
D) manufacturers’ representative
E) truck jobber
At Gina’s retail stores, the posted policy reads, “Without our customers, we don’t exist.”
Gina and her staff aim to delight each customer, and they are quick to offer discounts or
extra services whenever a customer is anything less than satisfied. Gina and her staff
strive to make every customer a repeat customer. It is most accurate to say that instead
of focusing on each individual transaction, Gina and her staff put a priority on
________.
A) managing partner relationships
B) selling new products
C) attracting “butterflies”
D) converting “barnacles” to “strangers”
E) capturing customer lifetime value
________ are wholesalers who serve grocery and drug retailers, mostly in nonfood
items. They price the goods, keep them fresh, set up point-of-purchase displays, and
keep inventory records.
A) Purchasing agents
B) Rack jobbers
C) Drop shippers
D) Cash-and-carry wholesalers
E) Manufacturers’ agents
The ________, established in 1947 and modified in 1994, was designed to promote
world trade by reducing tariffs and other international trade barriers.
A) WTO
B) NAFTA
C) EU
D) CAFTA-DR
E) GATT
Neutron Inc. is conducting a business analysis to determine which of the many newly
developed apps should be released. To estimate sales, the company must ________.
A) conduct surveys of competitors
B) exclusively consider the government’s opinions
C) consider the sales history of similar products
D) apply the PLC concept to industry sales
E) opt for business process reengineering
Customer information is often buried deep in separate databases and records of different
company departments. To overcome such problems, many companies are now turning
to ________ to manage detailed information about individual customers.
A) neuromarketing
B) customer needs marketing
C) customer relationship management
D) ethnographic research
E) netnography research
Deceptive promotion includes practices such as misrepresenting the product’s
________.
A) price or packaging
B) features or performance
C) size or quantity
D) wholesale or retail price
E) packaged contents
For which product would a company use an exclusive distribution strategy?
A) luxury cars
B) newspapers
C) chewing gum
D) dairy products
E) soft drinks
Market targeting is ________.
A) arranging for a market offering to occupy a clear, distinctive, and desirable place
relative to competing products in the minds of target consumers
B) dividing a market into distinct groups of buyers who have different needs and
characteristics
C) evaluating segment attractiveness and deciding how many and which segment(s) to
serve
D) marketing to buyers with separate marketing strategies or mixes
E) differentiating the firm’s market offering to create customer value
Selecting which segments of a population to serve is called ________.
A) market segmentation
B) positioning
C) customization
D) target marketing
E) differentiation
Which of the following is NOT part of Maslow’s hierarchy of needs?
A) physiological needs
B) safety needs
C) spiritual needs
D) esteem needs
E) social needs
Which of the following involves setting prices based on a rival firm’s strategies, costs,
prices, and market offerings?
A) target return pricing
B) good-value pricing
C) competitor value-added pricing
D) market-based pricing
E) competition-based pricing
Which of the following is an element of the marketing mix?
A) place
B) education
C) needs
D) wants
E) esteem
Geller Insurance calls qualified prospects to sell insurance. Which of the following
forms of marketing is evident from this example?
A) catalog marketing
B) kiosk marketing
C) direct-response television marketing
D) telemarketing
E) direct-mail marketing
Which of the following is a conventional consumer marketing channel?
A) producer to business distributor to end consumer
B) producer to wholesaler to retailer to end consumer
C) producer to end consumer to business customer
D) producer to retailer
E) producer to business distributor to business customer
When customers have low involvement in a purchase but perceive significant brand
differences, they will most likely engage in ________.
A) complex buying behavior
B) dissonance-reducing buying behavior
C) habitual buying behavior
D) variety-seeking buying behavior
E) consumer ethnocentrism
________ calls for meeting the present needs of consumers and businesses while also
preserving or enhancing the ability of future generations to meet their needs.
A) Sustainable marketing
B) Ambush marketing
C) Consumerism
D) Environmentalism
E) Strategic planning
What might drive a company to create international divisions or subsidiaries? Discuss
the three ways these divisions can be organized.
Retail stores can be classified in terms of several characteristics. Name four of them.
Describe the major contact methods used to collect information from respondents in
market research.
How do integrated marketing communications build brand identity?
Compare and contrast the purpose and content of a branded community Web site to that
of a marketing Web site.
Distinguish between the service profit chain and internal marketing.
Why are profound changes in marketing communications creating both exciting and
scary times for marketing communicators?
Describe the types of products that are exclusively distributed and provide examples.
Explain Maslow’s hierarchy of needs.
How does branding help buyers?
What is the difference between marketing planning and marketing implementation?
Explain how storing customer information in a database might better prepare carmaker
Kia in customer relationship management.
What is the purpose of benchmarking?
What structure can an American family have now, as the traditional family has
changed?
Explain the strengths of mobile marketing from the marketer’s point of view.
When are competitors most likely to react to price changes? How can a firm anticipate
the likely reactions of its competitors?