When you view a selection at Amazon.com and see “Customers who bought this (item)
also bought “, you are seeing the application of __________.
a. real-time e-commerce
b. connectivity
c. interactive marketing
d. personalization
e. collaborative filtering
Answer:
The four Ps are commonly known as
a. the environmental or uncontrollable forces.
b. the environmental or controllable factors.
c. the marketing mix or controllable factors.
d. the marketing mix or uncontrollable forces.
e. predict, produce, package, and persuade.
Answer:
Direct selling is likely to continue to grow in markets
a. for people who prefer not to have a social shopping experience.
b. where there are effective distribution channels.
c. in which consumers are knowledgeable shoppers.
d. where door-to-door convenience is important.
e. that have an excellent infrastructure.
Answer:
Questionnaire data refer to
a. the facts and figures obtained by observing people about their attitudes, awareness,
intentions, and behaviors.
b. the facts and figures obtained by analyzing people’s brain waves as consumers
complete surveys about their geodemographics, ethnographics, and behaviors.
c. psychographic data obtained by asking people non-biased questions about their age,
occupation, and income.
d. the facts and figures obtained by asking people about their attitudes, awareness,
intentions, and behaviors.
e. any type of information about a consumer obtained through non-technological
methods.
Answer:
Another name for the analysis of consumer lifestyles is __________.
a. demographics
b. psychographics
c. social statistics
d. physiological needs
e. sociographics
Answer:
The practice of identifying “emerging shifts in social behavior,” which are driven by
changes in pop culture that can lead to new products is called __________ hunting.
a. trend
b. fad
c. inclination
d. craze
e. tendency
Answer:
Many families today hold potluck meals during holidays or special events. Participants
bring casseroles, vegetables, breads, and desserts to share. It is easy to forget to take the
bowl that you brought to the dinner home with you. Reynolds responded to this
problem by creating PotLux cookware, attractive and inexpensive disposable dishes for
transporting food. Reynolds has recognized how to use _________ variables to segment
its market.
a. psychographic
b. behavioral
c. demographic
d. social
e. geographic
Answer:
One of the most common forms of retail ownership is the __________ owned by a
person.
a. corporate chain
b. consumer cooperative
c. contractual system
d. independent retailer
e. administered system
Answer:
In marketing, a conscious choice made from among two or more alternatives is referred
to as
a. a preference.
b. a paradigm.
c. a conclusion.
d. a paradox.
e. a decision.
Answer:
Websites designed to advertise a company’s products and provide information on how
items can be used and where they can be purchased are referred to as __________
websites.
a. choiceboard
b. conventional
c. transactional
d. promotional
e. intermediary
Answer:
The Apple II, Macintosh, iPod, iPhone, MacBook Air, and iPad are all examples of a
company’s commitment to __________.
a. outselling their competitors
b. social responsibility
c. new product development
d. using renewable resources
e. respecting their workforce
Answer:
A learned predisposition to respond to an object or class of objects in a consistently
favorable or unfavorable way is referred to as a(n) __________.
a. attitude
b. belief
c. value
d. motivation
e. perception
Answer:
Google
a. is a depository of information on U.S. business, economic and trade activity collected
by the federal government.
b. is a portal to all government websites that can be found by topic or keyword.
c. provides up-to-the-minute business news and security prices plus research reports of
companies, industries, and countries.
d. is the most popular Internet portal where users can enter key words or topics for
specific searches.
e. accesses information in online databases and an index of blogs by primary topic.
Answer:
3M’s pricing strategy for its Post-it Flag Highlighters was as follows:
a. match its principal competitors’ highlighters’ prices.
b. charge $3.99 to $4.99 for a single Post-it Flag Highlighter or $5.99 to $7.99 for a
three-pack, which would give a reasonable bookstore price to students and an
acceptable profit to distributors and 3M.
c. set an initially low price with the intent of bringing down the price even further later
if sales were less than anticipated.
d. make the product easier to purchase by placing the Post-it Flag Highlighter in
discount office supply retailers.
e. use the same pricing strategy as its 3M’s Post-itFlag and Post-itNote offerings.
Answer:
The purpose of competitive institutional advertisements is to
a. promote a specific brand’s features and benefits.
b. tell people what a company is, what it can do, and where it is located..
c. state the position of a company on an issue.
d. reinforce previous knowledge of a product.
e. promote the advantages of one product class over another.
Answer:
eBay is the predominant person-to-person trading community in the world. The eBay
Business website is an example of a(n)
a. Webfront operation.
b. clicks-and-mortar store.
c. e-marketplace.
d. noncompetitive market.
e. integrated market.
Answer:
Setting a price to achieve an annual target return-on-investment (ROI) is referred to as
a. target return-on-investment pricing.
b. target return-on-profit pricing.
c. target return-on-sales pricing.
d. target profit pricing.
e. customary pricing.
Answer:
Which of the following types of test marketing techniques was primarily used in market
research for General Mills Warm Delights?
a. free coupons
b. product sampling
c. continuity programs
d. double back product refunds
e. test marketing on the shelves of real supermarkets
Answer:
Figure 1.
According to Figure 1. above, the correct rank order of social media sites from least to
most popular as measured by the number of unique U.S. visitors as of September 2011
is
a. LinkedIn, Twitter, YouTube, and Facebook.
b. Facebook, LinkedIn, YouTube, and Twitter.
c. YouTube, LinkedIn, Twitter, and Facebook.
d. Facebook, Vimeo, YouTube, and Twitter.
e. Twitter, Facebook, YouTube, and LinkedIn.
Answer:
Consumers can visit L. L. Bean’s website to scan and order from among thousands of
displayed products without fighting traffic, finding a parking space, or standing in store
checkout lines. This is an example of the first reason why consumers buy online, which
is __________.
a. convenience
b. customization
c. communication
d. cost
e. control
Answer:
Automobile dealerships have invested significant time, effort, and money into their
websites. Dealerships commonly measure website performance by tracking visits,
visitor traffic, and _________the amount of time per month that visitors spend on their
website.
a. stickiness
b. glueyness
c. gumminess
d. adhesiveness
e. connectiveness
Answer:
Rebecca Gollanek makes and sells wood cooling racks for cakes, cookies, and breads
for $22.50 each. She has invested $4,300 in the venture and made $2,200 in net profit.
Calculate her return on investment.
a. 19.5%
b. 20.5%
c. 43.0%
d. 48.8%
e. 51.%
Answer:
Figure 1.
In Porter’s generic business strategies shown in Figure 1. above, “B” refers to a
__________ strategy.
a. quality focus
b. cost leadership
c. differentiation
d. cost focus
e. differentiation focus
Answer:
There are five steps involved in segmenting and targeting markets. What should a
marketer do after he or she has grouped products to be sold into categories?
a. create product groupings
b. develop a market-product grid and estimate size of markets
c. identify market needs
d. take marketing actions to reach target markets
e. form prospective buyers into market segments
Answer:
Many media today use pay-to-vote polls, in which respondents use a 900-telephone
number to vote “yes” or “no” on a current issue, as a means of generating viewer or
listener interest. The Research Industry Coalition (RIC) has asked all media to inform
viewers or listeners that the validity of such polls is questionable and the results are
NOT statistically representative of the population but are just a frequency distribution
of those who happen to call. If a television station chooses not to make viewers aware
of the shortcomings of a pay-to-vote poll, its business practice would fall into which of
the following categories?
a. ethical but illegal.
b. ethical and legal.
c. unethical and illegal.
d. unethical but legal
e. in today’s media age, this practice has become universal; any bias is implied and need
not be directly stated under the caveat emptor doctrine.
Answer:
A consumer’s purchases are often influenced by the views, opinions, or behaviors of
others. Two aspects of personal influence that are important to marketing are
__________ and word-of-mouth activity.
a. parental guidance
b. peer pressure
c. opinion leadership
d. government regulation
e. psychographics
Answer:
General Electric’s Jack Welch became a legend in making GE more efficient and far
better at implementation. One strategy he used to do this was
a. creating new mediation teams between planners and implementers.
b. developing task specific innovation teams.
c. hiring outside consulting firms.
d. delayering the organization.
e. conducting regular debriefing meetings to keep everyone aware of what was going
on.
Answer:
The people who use the products and services purchased for a household are called
a. organizational buyers.
b. household prospects.
c. ultimate consumers.
d. a target market.
e. sellers.
Answer:
Harley-Davidson emphasizes
a. supplier collaboration in its product design.
b. signing lifetime contracts to demonstrate loyalty.
c. offering their products at cost for all key supplier personnel.
d. listing the names of all suppliers on their Harley-Davidson promotional material.
e. extending Harley-Davidson health care benefits to supplier” employees.
Answer:
Which of the following statements accurately characterizes buying behavior in
organizational markets?
a. Organizational buying behavior is similar to consumer buying behavior since
individuals are involved in both processes.
b. Demand for industrial products is elastic instead of inelastic or derived because
companies, not ultimate consumers, determine the quantity of goods produced.
c. Fewer customers typically exist in organizational markets than in consumer markets.
d. Purchase orders much more frequent but they are usually small.
e. Forecasting is not as important in organizational buying as in consumer buying.
Answer:
The manufacturer of a new kind of fat-free ice cream that has the consistency and taste
of regular ice cream is thinking of using a penetration pricing strategy for its new
product. Which of the following conditions would argue against using a penetration
pricing strategy for the tasty fat-free ice cream?
a. The ice cream market is highly elastic.
b. A large portion of the market has inelastic demand for ice creamover a fairly broad
range of prices.
c. Economies of scale in production would be substantial.
d. Retailers are not willing to pay for new brands of premium ice cream in the already
overcrowded category.
e. Once the initial price is set, it is nearly impossible to lower the price without
alienating early buyers.
Answer:
Which of the following statements regarding supply chain customer service is most
accurate?
a. The output of a supply chain is measured in total units sold.
b. Customer service is seen not just as an expense but also as a means to increase
customer satisfaction and sales.
c. The output of a supply chain is measured either in total units sold or total number of
customers served.
d. A firm’s goal should be to provide superior customer service regardless of logistics
costs.
e. Customer service is the responsibility of marketing channel members and not the
supplier network.
Answer:
Consumer products refer to
a. products purchased by the ultimate consumer.
b. products used in the production of other items.
c. products a consumer will make an effort to seek out and buy.
d. items purchased frequently and with a minimum of shopping effort.
e. products that assist directly or indirectly in providing products for resale.
Answer:
A disadvantage of a joint venture arrangement when entering a new global market is
that
a. no intermediaries are used to distribute the product.
b. the first entering the foreign marketing must pay royalties to the host firm.
c. one of the companies forgoes control over its product.
d. when the two companies disagree about policies.
e. this method has the least amount of subsidies from the host country’s government.
Answer:
Government taxes on goods or services entering a country that primarily serve to raise
prices on imports are referred to as
a. tariffs.
b. quotas.
c. GATT taxes.
d. foreign excise taxes.
e. trade subsidies.
Answer: