The EARLY MAJORITY have a lot of contact with:
A. innovators.
B. the mass media only.
C. the mass media, salespeople, and early adopter opinion leaders.
D. impersonal and scientific information sources.
E. salespeople only.
Answer:
Cooperative chains:
A. are sponsored by wholesalers to try to compete with corporate chains.
B. are experiencing declining sales.
C. are formed by independent retailers to run their own buying organizations and
conduct joint promotion efforts.
D. are consumer groups who run nonprofit buying associations.
E. None of these alternatives is true for cooperative chains.
Answer:
In the communication process, the individual who decodes a message is also most
likely to be which of the following?
A. The source of the message
B. Noise affecting message transmission
C. The encoder of the message
D. The receiver of the message
E. The channel for message transmission
Answer:
Regarding “marketing research” and “marketing information systems”:
A. marketing information systems gather, access, and analyze data from intracompany
sources, while marketing research handles all external sources.
B. both tend to focus on nonrecurring information needs.
C. marketing information systems tend to increase the quantity of information available
for decision making, but with some decrease in quality.
D. neither involves the use of big data.
E. None of these alternatives is true.
Answer:
Which of the following is a “product”?
A. a used car
B. a bus ride
C. a haircut
D. a dental exam
E. All of these choices are products.
Answer:
A marketing manager planning to launch a successful new product should begin by:
A. obtaining financing for the venture.
B. designing products that interest him or her.
C. identifying a product or service that customers need.
D. choosing a business partner.
E. establishing a legal corporation.
Answer:
A sales rep for installations probably should use a ______________ sales presentation.
A. consultative selling approach
B. target market
C. prepared
D. selling formula approach
E. any of these sales presentations would work.
Answer:
Which of the following gives the correct order of the steps in the new-product
development process?
A. Screening, idea generation, idea evaluation, development, commercialization
B. Idea generation, screening, idea evaluation, development, commercialization
C. Idea generation, idea evaluation, development, screening, commercialization
D. Development, idea generation, screening, commercialization, idea evaluation
E. Commercialization, idea generation, idea evaluation, screening, development
Answer:
___________ stores are usually strong in customer services, including credit,
merchandise return, delivery, and sales help.
A. General
B. Limited-line
C. Department
D. Specialty
E. Luxury
Answer:
A large supermarket chain purchases a box of cereal from a food wholesaler. If the
supermarket chain uses a markup of 20 percent on its selling price of $2.85, what is the
price the supermarket chain paid the food wholesaler?
A. $2.12
B. $2.28
C. $2.45
D. $2.55
E. $2.67
Answer:
Which of these statements regarding manufacturing and service firms is true?
A. Manufacturers are more spread out around the country than service firms.
B. The U.S. has many more manufacturing firms than service firms.
C. B2B e-commerce purchasing is common for both manufacturing and service firms.
D. Unlike manufacturing firms, service firms rely on engineering and R&D people to
help make purchase decisions.
E. Unlike service firms, manufacturers tend to locate where they can be closest to their
customers.
Answer:
When an online intermediary like Hulu scans all of the episodes of NCIS and then
offers them to its customers one episode at a time, this is an example of:
A. Sorting
B. Assorting
C. Vertical integration
D. Bulk-breaking
E. Horizontal integration
Answer:
The wheel of retailing concept
A. is consistent with the emergence of supermarkets in the 1930s.
B. explains the early success of convenience (food) stores.
C. explains the early success of vending machines.
D. suggests that new types of retailers usually emerge as high-price, high-cost
operations, and then cut their prices as competitors enter the market.
E. None of these alternatives is true.
Answer:
A one price policy:
A. means offering the same price on all its products irrespective of the manufacturing,
designing, and marketing costs.
B. means offering the same price to all customers who purchase products under the
same conditions and in the same quantities.
C. means offering the same price to customers, but the price depends on the store which
is selling the product.
D. means offering the same price to distributors, retailers, and customers.
E. means equating price with the per-unit cost of production.
Answer:
Which of the following criteria should a marketing manager use when segmenting a
broad product-market?
A. The segments should be substantial-big enough to be profitable-and
operational-useful for identifying customers and deciding on marketing mix variables.
B. The people within a market segment should be as homogeneous as possible with
respect to the segmenting dimensions and their likely response to marketing mix
variables.
C. The people in different market segments should be as heterogeneous as possible with
respect to the segmenting dimensions and their likely response to marketing mix
variables.
D. All of these criteria would be useful.
Answer:
A retailer might expect a stocking allowance:
A. for paying the supplier’s invoice before the product is delivered.
B. to pass along to retail salesclerks who aggressively sell the product.
C. to offset the handling costs for a new product.
D. if the manufacturer can’t fill an order by the promised delivery date.
E. None of these-stocking allowances only apply to wholesalers.
Answer:
Specialty products:
A. have a number of close substitutes.
B. are brands customers request by name.
C. are generally high in price.
D. cannot be found using the Internet.
E. None of these alternatives is correct.
Answer:
When planning a marketing strategy, managers have control over:
A. the political and legal environment.
B. the cultural and social environment.
C. the economic environment.
D. their response to forces in the external market environment.
E. consumers.
Answer:
The three basic sales tasks are:
A. order-closing, order-opening, and sales-promoting
B. order-taking, missionary selling, and order-getting
C. order-taking, order-managing, and order-getting
D. order-taking, supporting, and order-getting
E. order-closing, supporting, and order-promoting
Answer:
Which of the following is NOT a psychological variable?
A. Culture.
B. Personality.
C. Learning.
D. Perception.
E. Attitudes.
Answer:
Ad spending for magazines in the U.S. in 2013 was about:
A. $2 billion
B. $11 billion
C. $17 billion
D. $29 billion
E. $45 billion
Answer:
Routinized response behavior
A. is most likely when past purchases of similar products have not satisfied the
consumer’s needs.
B. is more likely when previous behavior has not yet been reinforced.
C. is most common for purchases where the consumer has much experience in how to
meet a need.
D. increases the time required to make a purchase decision.
E. is likely in a new purchase situation.
Answer:
A product strategy decision includes all of the following except:
A. Benefits
B. Exposure
C. Features
D. Quality
E. Warranty
Answer:
Which of the following is most likely to increase a firm’s customer equity?
A. The firm offers a more costly marketing mix that attracts more customers.
B. The firm offers customer value that is at least as good as what competitors offer.
C. The lifetime value of the firm’s individual customers increases.
D. The competition in the firm’s market increases.
E. The firm cuts costs by reducing promotion efforts.
Answer:
The most popular sales force payment method is:
A. a combination plan.
B. the consultative selling method.
C. straight salary.
D. straight commission.
Answer:
Competitors that begin to see the success of a new product or product category
typically:
A. invest heavily in R&D to pioneer a new innovative product of their own.
B. quickly enter the market with a replica of the most successful good or service.
C. sue the firm for creating the product innovation.
D. invest in that company’s stock.
E. launch negative publicity campaigns to harm the innovation’s chances of success.
Answer:
American economic and legislative thinking is based on the idea that
A. encouraging competition harms public interest.
B. competition among many small firms helps the economy.
C. attempts by business to limit competition aids large firms during recessions.
D. the economic environment provides a base for the technological environment.
E. laws should protect companies and not consumers.
Answer:
Saxon Shoes is a large independent shoe store. In the men’s department, the store offers
three different brands of slip-on tassel loafers for men: Bass, priced at $75; Rockport,
priced at $125; and Allen Edmonds, priced at $250. In terms of product quality, which
of the following is an accurate statement?
A. The Bass shoes have the lowest quality.
B. The Allen-Edmonds shoes have the highest quality.
C. The Rockport shoes have mid-level quality.
D. The quality of the three brands depends on the degree to which they meet the needs
of the consumers in the target market.
E. All of these alternatives are correct.
Answer:
A retailer’s target customers are young, well educated, and mobile-with many contacts
outside their local social group and community. They are eager to try new ideas and are
willing to take risks. These target customers are:
A. innovators.
B. laggards.
C. early adopters.
D. the late majority.
E. the early majority.
Answer:
“Pioneering advertising” tries to:
A. develop goodwill toward a company.
B. develop primary demand.
C. build a brand image.
D. develop selective demand.
E. build demand for a specific brand.
Answer:
When marketing people do long-range planning and the whole company is guided by
the “marketing concept,” the company has entered the ______________ era.
A. production
B. customer satisfaction
C. marketing company
D. consumerism
E. marketing department
Answer:
Which one of the following statements about packaging is TRUE?
A. Better packaging almost always increases total distribution cost.
B. A package should satisfy not only the needs of final consumers but also those of
intermediaries.
C. A package doesn’t have much promotion impact at retail stores.
D. A good package can aid in the promotion effort, but it’s not as effective as
advertising.
E. All of these statements about packaging are TRUE.
Answer:
Wendy’s was one of the first fast-food restaurants to offer a “dollar menu” on some of
its food items. What pricing policy was Wendy’s pursuing?
A. Skimming price
B. Quantity discount
C. Noncumulative quantity discount
D. Value pricing
E. Cumulative quantity discount
Answer: