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In Via del Mar, Chile, a large number of shops specialize in selling the same quality of
seafood products along the beach frequented by tourists. No individual shop dares
charge more than the going price without fearing loss of business to other shops. This
exemplifies ________.
A) pure competition
B) monopolistic competition
C) oligopolistic competition
D) pure monopoly
E) the dominant firm model
Answer:
Which of the following is the most likely reason that employees regularly attend trade
shows and seminars?
A) to analyze the product life cycle
B) to test new product concepts
C) to get new product ideas
D) to imitate competitors' products and strategies
E) to implement a team-based new product development approach
Answer:
Which of the following is the final stage in the new product adoption process?
A) awareness
B) adoption
C) evaluation
D) interest
E) trial
Answer:
Which of the following is true with regard to geographic organization?
A) It is the most common form of marketing organization.
B) Different marketing activities are headed by a functional specialist.
C) It requires salespeople to have international experience.
D) It reduces the overall efficiency of salespeople.
E) It allows salespeople to work with a minimum of travel time and cost.
Answer:
In the ________ stage of the buying process, the alert business marketer can help the
buyers define their needs and provide information about the value of different product
characteristics.
A) problem recognition
B) general needs description
C) supplier search
D) supplier selection
E) order-routine specification
Answer:
Sage Hospitals, a nonprofit organization, provides healthcare to the people in the
Midwest. Management at Sage is involved in the ________ market.
A) government
B) consumer
C) wholesale
D) institutional
E) resell
Answer:
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."
Fun-Spot Fun Park represents a high-growth, high-share business. According to the
BCG matrix, it can be classified as a ________.
A) star
B) question mark
C) bear
D) cat
E) dog
Answer:
Information in a company's database can come from many sources. An advantage of
harnessing such information is to ________.
A) eliminate employee turnover
B) achieve a high degree of employee empowerment
C) gain competitive advantage
D) gain access to mass markets
E) eliminate resource dependency
Answer:
Donello Equipment hosts infomercials on television and at the same time allows its
viewers to interact with its advertisements. Viewers can request more details and order
via their Internet-ready smart televisions. Which of the following forms of marketing is
evident here?
A) catalog marketing
B) telemarketing
C) interactive television
D) podcast marketing
E) kiosk marketing
Answer:
Companies such as Amazon.com and Expedia.com that sell products and services
directly to final buyers exclusively over the Internet are known as ________.
A) transaction sites
B) content sites
C) search engines and portals
D) e-tailers
E) online social media
Answer:
Marketers use mobile channels for several purposes. Which of the following is least
likely to be one of those purposes?
A) Enrich the brand experience.
B) Send billing statement.
C) Stimulate immediate buying.
D) Make shopping easier.
E) Boost sampling.
Answer:
Macy's department stores carry a wide range of product lines, including clothing,
jewelry, kitchenware, and home furnishings. Macy's typically charges a relatively high
markup, but also holds frequent sales and price promotions, in particular offering
discounts to customers who use a Macy's credit card. Macy's uses ________.
A) self-service retailing
B) experiential retailing
C) high-low pricing
D) everyday low pricing
E) retail convergence
Answer:
Mercury Inc., an American multinational corporation, is currently planning to enter the
promising consumer goods market in India. The firm will most likely discover that
________ beliefs and values are more open to change in India.
A) inherited
B) secondary
C) primary
D) core
E) traditional
Answer:
Jake Adams works for a marketing research firm and is currently conducting research
for a company that wants to investigate multiple international markets for the
possibility of expansion. Internet-based survey research would be the most attractive
research option for Jake if his client ________.
A) places a high emphasis on speed
B) requires a small sample size
C) places a high emphasis on following intrusive research methods
D) wants to exercise full control over the online sample
E) places a high emphasis on ethnographic research
Answer:
Today's consumers do not need to rely on marketer-supplied information about products
and services because they can use ________ to seek out a wealth of information.
A) push strategies
B) direct marketing
C) the Internet
D) personal selling
E) public relations
Answer:
Samsung Mobile plans to launch a new phone with a unit cost of $270 and wants to
earn a 10 percent markup on its sales. Samsung's markup price is ________.
A) $275
B) $280
C) $295
D) $300
E) $335
Answer:
Which of the following is a type of joint venturing?
A) trade embargo
B) licensing
C) direct investment
D) direct exporting
E) indirect exporting
Answer:
Briefly compare the different types of research approaches for gathering primary data.
Answer:
Which of the following is true of conventional distribution channels?
A) Channel members have complete control over each other.
B) Channel members seek to maximize their own profits.
C) Channel conflict is governed by formal mechanisms.
D) Channel members are assigned roles according to a clearly defined framework.
E) Channel members work exclusively for the good of the organization.
Answer:
A recent study conducted by Estelle Cosmetics Company showed that heavy users of
Estelle's products comprise a small percentage of the market. The study indicated that
less than 7 percent of all shoppers buy nearly 71 percent of Estelle's products in the
United States. This is an example of ________.
A) benefit segmentation
B) segmentation by loyalty status
C) segmentation by usage rate
D) psychographic segmentation
E) occasion segmentation
Answer:
Apollo Couriers, a company providing international express mail services, has a
proactive customer communications team. The primary job of this team is to identify
situations that led to customer dissatisfaction, and then provide quick remedies to fix
the problems. To a great extent, this has helped Apollo in winning customer loyalty. In
this instance, Apollo has benefitted from ________.
A) product differentiation
B) good service recovery
C) multibranding
D) place marketing
E) co-branding
Answer:
Karl Harris, a marketing critic, is concerned about the pervasiveness of marketing. He
points out that advertising messages are everywhere, from Web sites and e-mails to
unwanted direct mail and catalogs to television commercials and product tie-ins to
billboards and store signage. Karl is concerned about ________.
A) high packaging costs
B) cultural pollution
C) deceptive practices
D) false wants and too much materialism
E) the balance between private goods and social goods
Answer:
Which stage in the product life cycle is characterized by rapid market acceptance and
increasing profits?
A) introduction
B) maturity
C) growth
D) decline
E) product development
Answer:
The first step in initiating competitive marketing strategies is to ________.
A) balance customer and competitor orientations
B) design broad competitive marketing strategies
C) assess long-term organizational objectives
D) conduct competitor analysis
E) conduct transaction analysis
Answer:
Through ________ differentiation, brands can be differentiated on features,
performance, or style and design.
A) services
B) channel
C) people
D) product
E) price
Answer:
Which of the following companies uses a direct marketing channel?
A) Fishhooks, a factory that manufactures fishing equipment that it ships to hobby
stores worldwide
B) Germfight, a factory that manufactures dental products that it distributes only to
select department stores
C) Apple Blossoms, a company that sells its cosmetics exclusively through Ray's Retail
Store
D) Holly Wreaths, a store that sells Christmas ornaments to customers via its online
click-to-order catalogs
E) Showdown, a clothing store that stocks merchandise from different international
brands
Answer:
Johnson Business Solutions maintains one sales force for its copy machines and a
separate sales force for its computer systems. Johnson Business Solutions utilizes a(n)
________.
A) product sales force structure
B) customer sales force structure
C) territorial sales force structure
D) digital marketing system
E) geographical operations system
Answer:
Designing international channels that take into account the entire global supply chain
and marketing channel, thus forging an effective global value delivery network,
recognizes a company must have a ________.
A) whole-channel view
B) direct-distribution channel
C) large-scale channel
D) transportation network
E) retail channel
Answer:
Mission statements should be ________.
A) meaningful and specific yet motivating
B) technology oriented
C) written solely for public relations purposes
D) focused on increasing sales or profits
E) strictly product oriented
Answer:
Music Mogul has arrangements with several stores and retail chains to place their
DVDs and digital music machines in prime spots such as near billing counters and at
store entrances. Consumers can buy DVDs by depositing payment or they can buy
music online via the touch-screen interface on the machine. Which form of marketing is
illustrated in this scenario?
A) direct-response television advertising
B) telemarketing
C) interactive television
D) podcast marketing
E) kiosk marketing
Answer:
Which of the following is true with regard to gathering secondary data?
A) Gathering secondary data involves costly fees to government agencies.
B) Commercial online databases contain primary rather than secondary data.
C) Internet search engines can be useful sources of relevant secondary data.
D) It is illegal for firms to purchase secondary data from outside suppliers.
E) Secondary data eliminates the need for primary data in most cases.
Answer:
Which of the following is the best example of a desirable product?
A) breakfast cereal
B) cigarettes
C) effective but foul-tasting medicine
D) junk food
E) dental insurance
Answer:
If Detroit DLX charges the same price for the delivery of its product to customers
located in the states near the Great Lakes, but a different price to customers elsewhere,
the company is using ________.
A) psychological pricing
B) promotional pricing
C) zone pricing
D) reference pricing
E) uniform-delivered pricing
Answer:
________ tend to be straightforward outlines of benefits and positioning points that the
advertiser wants to stress.
A) Promotion mix plans
B) Message strategy statements
C) Creative concept strategies
D) Advertainment statements
E) Branded entertainment plans
Answer:
The simplest pricing method is ________ pricing.
A) value-based
B) fixed cost
C) cost-plus
D) target return
E) competition-based
Answer:
