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Consumers might not realize that Old Spice health and wellness products and Iams pet
nutrition products are made by the same companyProcter & Gamble. Old Spice and
Iams are known as
A. individual brands.
B. family brands.
C. corporate brands.
D. traditional brands.
E. umbrella brands.
Answer:
One product strategy used by retailers to differentiate themselves from competitors is
A. the use of private-label brands.
B. discount pricing.
C. removing brand labels from their merchandise offerings.
D. JIT product delivery.
E. offering brand-name merchandise.
Answer:
When Greenbelt Construction Company began building houses in a large subdivision
with many other builders, the company priced its homes slightly higher than its
competitors and promoted the added quality features found in Greenbelt's homes.
Greenbelt was using a(n) _______ pricing strategy.
A. competitor-based
B. value-based
C. improvement-based
D. premium
E. reference-based
Answer:
If the fixed costs of manufacturing a new cell phone are $10,000, the sales price is $60,
and variable cost per unit is $20, the break-even point is
A. 100 units.
B. 4,000 units.
C. 20 units.
D. 1,000 units.
E. 250 units.
Answer:
Automobile manufacturers often use television advertising showing an attractive man
or woman driving the manufacturer's stylish new car on a winding road along an ocean
vista. These types of ads have __________ appeal.
A. emotional
B. ethical
C. informational
D. institutional
E. reminder
Answer:
Which of the following is not an element of the factors affecting consumers' search
processes?
A. perceived benefits versus perceived costs of search
B. locus of control
C. actual risk
D. perceived risk
E. functional versus psychological need
Answer:
Naomi knows she has to order her store's Christmas holiday merchandise in April to
ensure delivery before the holiday season. Naomi is concerned with the supply chain
management goal of
A. providing products at the right time.
B. providing products at the right locations.
C. providing the right quantities.
D. satisfying the service levels supply chain participants expect.
E. minimizing systemwide costs.
Answer:
Georgia, the outside sales rep for a major building supply company, reads a report
stating that building permits are down dramatically in her sales territory. She had
noticed that things were slowing down, but now she has data confirming her
impression. Based on this information, Georgia will help her company become more
value driven if she
A. pushes her customers to buy products whether they need them or not.
B. advises the production and purchasing departments to produce or order smaller
quantities of products.
C. avoids contacting her customers until the slowdown ends.
D. avoids contact with competing firms in order to maximize value-driven marketing.
E. keeps the information to herself.
Answer:
A strategy of setting prices based on how customers develop their perceptions of value
can often be the most effective pricing strategy, especially if the strategy
A. leads the marketer to being the low-cost seller.
B. is supported by consistent advertising and distribution strategies.
C. challenges consumers to discard their perceptions of value.
D. is consistent with a competitive target return strategy.
E. is measured against the competition.
Answer:
In recent years, cellular (mobile) service providers have worked hard to eliminate "dead
zones," providing customers with service wherever they traveled. By working to make
the network available in more locations, cellular service companies were focusing on
__________ value creation.
A. product
B. price
C. promotion
D. place
E. financial
Answer:
An advertising plan is crucial to an ad campaign because it
A. is the basis for sales commissions.
B. is required by the accounting department.
C. offers insights into the creative leadership of mass media buyers.
D. will later be used to measure the success or failure of the campaign.
E. stimulates demand for a product category.
Answer:
Marketers rely on social media to achieve three objectives. Which of the following is
not one of those objectives?
A. members promoting themselves to gain more friends
B. sites promoting themselves to get more members
C. members promoting sites to gain more friends
D. outside companies promote their products to appeal to potential customers
E. outside companies promote their services to appeal to potential customers
Answer:
Yesenia, the new university course scheduling manager, is struggling with adjustments
to the fall schedule. She is trying to determine how to offer the classes students need at
the times when students need them. Yesenia is struggling with the marketing function of
A. communicating the value proposition.
B. managing the supply chain.
C. creating value.
D. capturing value.
E. cocreating value.
Answer:
Christie has just started with a travel agency, and she has been offering clients and
prospective clients a range of packaged tours. She is concerned, because the
commissions she is earning on her sales are lower than she had hoped. Her colleague
Peter, who has been with the agency for several years, is having a great deal of success
by working closely with the clients, seeking their ideas, and building customized tour
packages for each one based on their suggestions. Peter's approach is based on
A. transaction-oriented marketing.
B. premium pricing.
C. his seniority at the firm.
D. special incentives from tour operators.
E. value cocreation.
Answer:
Lionel is asked to conduct an STP analysis for his firm. The first step he should perform
in this analysis is to
A. develop a business mission statement.
B. choose the best target markets.
C. reposition existing segments.
D. divide the marketplace into subgroups.
E. conduct a SWOT analysis.
Answer:
Sharon knew that her established customers liked her product much better than her
competitor's. She was planning to expand into new markets, and she was considering
pricing. She was leaning toward charging a higher price than competitors to help
demonstrate that hers was a high-quality product. Sharon was considering
A. a top of market strategy.
B. the value of quality.
C. advantageous pricing.
D. premium pricing.
E. differential pricing.
Answer:
Marketers know that, compared to high school graduates who are working full time,
college students
A. will earn less over their working lifetime.
B. spend their disposable income differently.
C. are less likely to buy textbooks.
D. have almost identical spending patterns.
E. are more likely to drink beer and less likely to drink wine.
Answer:
The Johnson & Johnson credo
A. was a response to the Tylenol incident.
B. proved ineffective when the company needed to act in the Tylenol crisis, which was
a clear lesson to other companies to update similar documents.
C. was copied by all other pharmaceutical companies.
D. offers an extremely detailed description of potential problems for the company.
E. has guided the firm since it was written in the 1940s.
Answer:
When marketers establish a price floor and a price ceiling for an entire line of similar
products and then set price points in between for differences in quality among the
products, they are using a _______ pricing approach.
A. loss leader
B. zone
C. price bundling
D. price skimming
E. price lining
Answer:
In retailing, a just-in-time delivery system is called a _______ system.
A. cross-docking
B. quick response (QR)
C. UPC
D. EDI
E. lead time
Answer:
In what country have regulators demanded that Facebook stop collecting biometric data
on its users?
A. the United States
B. Russia
C. China
D. Germany
E. Mexico
Answer:
Sales, profits, orders, and sales ratios are all _________ measures that can be used to
evaluate sales representatives.
A. subjective
B. objective
C. uncontrollable
D. cooperative
E. customer-related
Answer:
Jackie works as a sales rep for a company that produces and sells steel used in building
construction. Jackie is in __________ sales.
A. G2B
B. B2C
C. B2B
D. C2C
E. G2G
Answer:
Nora is deciding whether to purchase brand-name sneakers or a less expensive store
brand. She has purchased other shoes with the same brand name in the past but was
only marginally satisfied. In this situation, Nora is likely to purchase the store brand
sneakers because they offer
A. more brand awareness.
B. higher degrees of brand loyalty.
C. greater perceived value.
D. a better brand image.
E. more product line depth.
Answer:
In the "create advertisements" step when planning and executing an ad campaign, often
the execution style for the ad will
A. determine the pretesting pulse of the ad.
B. dictate the type of medium used to deliver the message.
C. determine which push-pull strategy will accompany the ad.
D. dictate how advertising will be flighted.
E. deliver integrated marketing.
Answer:
Reginald greets his regular customers by name every morning when they come in for
coffee. He offers them a taste of anything special he is cooking that day. He has a
database with their birthdays, and offers them free meals on their birthdays. Reginald
hopes that this attention to his "regulars" will encourage them to
A. assist him in meeting his functional needs.
B. always include his firm in their universal set.
C. extend problem solving beyond ritual consumption.
D. internalize impulse attitudes.
E. spread positive word of mouth.
Answer:
Nadia stood outside the mall and asked people which stores they visited and if they
bought anything. If they said yes, she asked them what they bought and how they came
to the decision to buy that item. What form of research was Nadia most likely
conducting?
A. questionnaire
B. in-depth interviews
C. experiment
D. focus group
E. biometrics
Answer:
Companies can find out a lot about customers using sentiment analysis on sites like
Facebook and Twitter, or put another way, by
A. reacting.
B. exciting.
C. engaging.
D. listening.
E. educating.
Answer:
When auditing expenses claimed by the university president, the auditors found
extravagant spending on $1,000 per night hotels, banquets, and gourmet restaurants.
The president was fired, alumni donations declined, and staff memberswho were
disturbed by the extravagance while staff salaries were frozenquit their jobs. This
example illustrates
A. that universities are more corrupt than companies.
B. that the extravagant spending should have been kept quiet to minimize damage to the
university.
C. that the impact of unethical actions can affect the organization in unanticipated ways.
D. the need to identify issues.
E. the lack of information needed to make ethical decisions.
Answer:
Firms that use the same brand name for new products can spend relatively less on
marketing costs for the new product because
A. brands protect corporate copyrights.
B. consumer loyalty can be bought for less now compared to the past.
C. brand equity can be obtained only by means of product line depth.
D. people already know what the brand means.
E. well-known brands are less likely to introduce brand extensions.
Answer:
Donald is analyzing and interpreting data. In the process, he is converting data into
information.
Answer:
Christy, who was born in 1955, advocated for "casual Friday" at her workplace. Christy
is a member of which generational cohort?
A. Baby Boomer
B. Gen X
C. Gen Y
D. Gen Z
E. Millennials
Answer:
Effective service recovery efforts can lead to all of the following except
A. increased purchase intentions.
B. increased positive word of mouth.
C. increased customer satisfaction.
D. lower levels of satisfaction than prior to the service failures.
E. increased dependence on technology to prevent future service failures.
Answer:
