By 2050, ________ will be an estimated 30 percent of the U.S. population.
A) African Americans
B) Asians
C) Hispanics
D) Native Americans
E) Native Hawaiians
Companies use secondary data, personal experience, and word of mouth to ________.
A) identify competitors’ target customers and strategies
B) identify competitors’ target locations and market share
C) learn about their competitors’ strengths and weaknesses
D) select competitors to attack or avoid
E) estimate competitors’ sales projections
Which of the following characterizes indirect exporting?
A) It requires more investment than joint venturing.
B) It requires an overseas marketing organization or network.
C) It involves less risk and investment than other entry methods.
D) The potential returns are greater than direct exporting.
E) It involves joining with foreign companies to produce or market products or
services.
When the advertising objective is to build primary demand for a new product category,
________ advertising will most likely be used.
A) persuasive
B) informative
C) comparative
D) patronage
E) institutional
Cost-plus pricing ________.
A) is a complex pricing method
B) involves pricing that accurately reflects production costs
C) involves adding a standard markup for profit
D) aims at breaking even on the costs of making and marketing a product
E) is a value-based pricing method
GameStop sells only video games and systems, offering a narrow product line with a
deep assortment within that line. GameStop is a(n) ________.
A) department store
B) convenience store
C) category killer
D) specialty store
E) off-price retailer
Hilton helps others run their hotels by providing the management know-how. This type
of joint venture is known as ________.
A) contract manufacturing
B) licensing
C) management contracting
D) joint ownership
E) direct investment
Sail Metalworks Inc. is currently looking for the best vendors of metal sheets. In other
words, Sail Metalworks is ________.
A) preparing a general needs description
B) deciding on product specification
C) conducting a supplier search
D) preparing an order-routing specification
E) reviewing suppliers’ performance
Which of the following is true with regard to products?
A) The quality of products is far more difficult to measure than that of services.
B) Products do not include experiences, organizations, persons, places, and ideas.
C) Products are not meant for sale in the market.
D) Products include services, events, persons, places, organizations, ideas, or a mixture
of these.
E) Products refer to only those activities that are essentially intangible.
Many retailers are now experimenting with limited-time shops that let them promote
their brands to seasonal shoppers and create buzz in busy areas. Which of the following
terms best represents such shops?
A) power centers
B) strip malls
C) pop-up stores
D) category killers
E) lifestyle centers
When consumers are highly involved with the purchase of an expensive product and
they perceive significant differences among brands, they most likely will exhibit
________.
A) consumer capitalism
B) complex buying behavior
C) consumer ethnocentrism
D) dissonance-reducing buying behavior
E) variety-seeking buying behavior
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
Home Depot and PetSmart are examples of ________.
A) factory outlets
B) warehouse clubs
C) superstores
D) off-price retailers
E) category killers
________ are groups to which an individual wishes to belong, as when a young
basketball player hopes to play someday for the Los Angeles Lakers.
A) Membership groups
B) Aspirational groups
C) Leading adopters
D) Laggards
E) Disassociative groups
________ research involves observing customers in a natural context on the Internet.
A) Causal
B) Netnography
C) Survey
D) Ethnographic
E) Geomarketing
The ________ refers to all the individuals and units that play a role in the purchase
decision-making process.
A) research and development center
B) value chain
C) buying center
D) marketing information system
E) immersion group
Which of the following is a major advantage of the market organization?
A) The company is organized around the needs of specific customer segments.
B) The company exploits bleeding-edge technologies to keep ahead in the market.
C) The company has a flat organizational structure.
D) The company allows its salespeople to settle into a specific territory.
E) The company caters to a single, small market segment.