Consumers’ product preferences remain stagnant irrespective of their age and place in
the family life cycle.
a. True
b. False
Answer:
Which of the following statements is true about the niche strategy?
a. Only large companies can implement a niche strategy.
b. Companies that adopt a niche strategy have only a small number of customers.
c. Only the companies that do not have competitors can adopt a niche strategy.
d. Companies that adopt a niche strategy can only gain a price advantage over
competitors.
Answer:
Which of the following scenarios illustrates business marketing?
a. Molly, a university student, buys a book to gift her friend.
b. Tom, the accountant at Martel Inc., buys a pair of shoes for his daughter.
c. Mark, a school student, purchases a laptop for his personal use.
d. Jenny, the manager of Ikon Inc., purchases a set of printers for her office.
Answer:
Which of the following practices can help businesses gain a cost competitive
advantage?
a. Innovating simplified production techniques
b. Using expensive raw materials
c. Customizing products with extra frills
d. Manufacturing products in smaller quantities
Answer:
Which of the following opinions is a critic of the sales-orientation philosophy most
likely to hold?
a. Reducing prices is the most effective technique that helps increase product sales.
b. Customers do not buy products unless the products are adequately promoted.
c. Business firms should give maximum emphasis to advertising strategies.
d. Business firms need to have a good understanding of the needs of the marketplace.
Answer:
Competitive intelligence specifies how and when data will be gathered, what data is
relevant, and how the data will be analyzed to solve a marketing research problem.
a. True
b. False
Answer:
FourSquare and Loopt are examples of location-based social networking site.
a. True
b. False
Answer:
_____ have the longest product life cycles.
a. Product categories
b. Product items
c. Individual brands
d. New products
Answer:
DutiLog is a firm that specializes in providing warehousing, order processing, and
transporting solutions to a diverse group of firms. Firms contract DutiLog to manage a
part or most of their order fulfillment process. Thus, DutiLog is an example of a:
a. mediator.
b. third-party logistics company.
c. federal administrative agency.
d. job shop.
Answer:
Researchers found that when top managers develop a strong ethical culture, unethical
behavior is reported less frequently.
a. True
b. False
Answer:
Gen Xers:
a. spend the least on housing than any other cohort.
b. control seventy percent of America’s net worth.
c. are aged between twelve and eighteen years.
d. spend more on food than any other cohort.
Answer:
Millenials:
a. are now more in number than baby boomers.
b. spend the most on food than any other cohort.
c. have been least affected by the Great Recession.
d. are less familiar with technology and social media than any other group.
Answer:
Which of the following is a psychological factor that impacts consumer buying
decisions?
a. Social class
b. Learning
c. Personality
d. Lifestyle
Answer:
Which of the following is true of social media?
a. It cannot be compared to traditional advertising in any meaningful way.
b. It offers a mass-media method of interacting with customers.
c. It has less sophisticated ways of measuring how marketers meet and interact with
consumers than traditional advertising.
d. It offers more one-to-one ways to meet consumers than traditional marketing media.
Answer:
Promotional objectives and the appeal and executional style of advertising strongly
affect the selection of media.
a. True
b. False
Answer:
_____ involves developing product or service offerings customized for the appropriate
customer segment and then pricing and communicating these offerings for the purpose
of enhancing customer relationships.
a. Transaction management
b. Campaign management
c. Lead generation
d. Lead qualification
Answer:
Delta Corp. is a large corporation that offers several product lines. On the company’s
Web site, the following content is highlighted: “The aim of our business is to achieve
profitability by offering our customers high quality products that are manufactured in a
cost effective manner. Our goals are to provide value to our customers, serve the
community, and preserve the environment.” This content is most likely to be Delta’s:
a. article of incorporation
b. financial statement
c. bona fide occupational qualification
d. mission statement
Answer:
Which of the following examples illustrates a niche strategy?
a. Libra, a motor company, uses new production techniques to achieve economies of
scale.
b. Alpha Electronics has decided to dissolve one of its strategic business units.
c. Venus Inc. has decided to target customers in Asia.
d. Relish, a confectionery store, sells its products only in one city.
Answer:
Car Bar allows its customer to rent a car at $10 per day on weekdays, at $15 per day on
weekends, and at $20 per day exclusively during the holiday season. This pricing
strategy helps the company match the supply and demand for its cars. This is an
example of _____.
a. operations-oriented pricing
b. revenue-oriented pricing
c. patronage-oriented pricing
d. quality-oriented pricing
Answer:
Internet surveys are labor-intensive in nature and incur training, telecommunications,
and management costs.
a. True
b. False
Answer:
Which of the following is an effect of social influences on consumer buying decisions?
a. Consumers base decision making on the values and beliefs of their culture.
b. Consumers rely on personal experience to make a buying decision.
c. Consumers seek out the opinions of others for decision making.
d. Consumers make decisions based on their ideal self-image.
Answer:
Effective sales management begins with:
a. determining sales goals.
b. determining the most efficient structure for the sales force.
c. specifying the sales force size.
d. designing a compensation plan.
Answer:
Which of the following statements is true about morals?
a. They are universal and seldom vary.
b. They are independent of factors such as culture and religion.
c. They may reflect the laws and regulations that affect social and economic behavior.
d. They set absolute standards for good and bad that are enforced by the law.
Answer:
The publisher of a business magazine wants to make several major changes in the
magazine’s content and format. Which of the following will enable the publisher to
understand the changes that will most likely be welcomed by its readers?
a. Product differentiation
b. Cannibalization
c. Marketing research
d. Planned obsolescence
Answer:
TomSauce, a brand of tomato sauce, advertises that the tomatoes it uses are processed
within 24 hours of being picked to ensure product freshness. In this scenario, the fresh
tomatoes are examples of _____.
a. raw materials
b. component parts
c. MRO items
d. supplies
Answer:
Humorous advertisements have been shown to be more effective at shaping attitudes
when consumers already have a positive image of an advertised brand.
a. True
b. False
Answer:
Green & Gold is a coffee chain based in the United States. Its management has been
trying to refocus on the things that originally made the company successful. For
example, Green & Gold stores across the United States recently shut down for a short
period of time for retraining, and the company has worked to make sure that customers
can smell the freshly ground coffee aroma when they pass by the store. However, when
questioned, consumers tend to emphasize on the need for pricing incentives such as a
frequent purchasing program. According to the _____, there may be a difference
between what customers want and what Green & Gold management thinks customers
want.
a. gap model of service quality
b. service pyramid
c. four dimensions of service quality
d. service paradigm
Answer:
A company is most likely doomed to failure in a foreign country if it _____.
a. does not understand the country’s culture
b. does not emphasize its home country’s language over that of the country
c. varies its marketing mix based on the country’s economic growth
d. pays attention to the country’s demographics
Answer:
Which of the following statements is true about tweens?
a. They are aged between eighteen and twenty-five years.
b. They prefer and value traditional media over social media.
c. They have more spending power than any other cohort.
d. They have their own social media outlets.
Answer:
_____ negotiate with one another, buy and sell products, and facilitate the change of
ownership between buyer and seller in the course of moving a product from
themanufacturer into the hands of the final consumer.
a. Channel members
b. Laggards
c. Millennials
d. Early adopters
Answer:
Future Market, a supermarket chain, uses bar codes for all its products. As soon as a
product is sold, the information is electronically transferred to the firm’s warehouse and
the product’s supplier. In addition, changes are automatically made to the firm’s sales
account and stock ledger. This helps the firm reduce its paperwork and makes managing
inventory easier. This is an example of__________.
Answer:
The practice of returning production jobs to the United States is known as__________.
Answer:
What is the difference between internal marketing and relationship marketing? Why are
these types of marketing important to service marketing?
Answer:
__________is an emerging trend that employs market data to best serve customers as
they prepare to make a purchase.
Answer:
How do organizations use a product differentiation strategy to distinguish their products
from competitors?
Answer:
Indigo Blue Inc. is a distributor of equipment, component parts, and supplies in the
United States. It has an ownership title to all its products. These products are stocked in
both national and regional warehouses to guarantee product availability and quick
service to the many manufacturers who are its customers. Based on this information,
Indigo Blue Inc. is an example of a(n)__________.
Answer:
Explain some of the program attributes included in the Maritz Marketing Research
Loyalty Report. How are these attributes used by managers who design customer
loyalty programs?
Answer:
__________is a business’s concern for the long-range welfare of both the company and
its relationships to the society within which it operates.
Answer:
Ecstasy Inc. is a Canada-based food and beverage company. The company has decided
to market and sell its products in all European countries under the same brand name. In
this scenario, Ecstasy Inc. has decided to use the__________.
Answer:
Explain in detail why a large proportion of new product introductions fail?
Answer:
Explain the importance of marketing research in decision making.
Answer:
Melrow Inc., a U.S. firm, suffers heavy losses and lays off many of its employees. As a
measure to reduce its manufacturing costs, it shifts its production units to another
country where inexpensive labor is available. In this scenario, Melrow Inc. is engaged
in__________.
Answer:
Explain the key guidelines that marketers must follow to leverage owned media, earned
media, and paid media?
Answer:
Explain the distribution structure followed in business markets.
Answer:
A__________is a price reduction offered to buyers buying in multiple units or above a
specified dollar amount.
Answer:
The maker of Protect Your Hands hand sanitizer decided to test its consumers’ reactions
to one of its new products, Protect Your Hands Sanitizing Wipes. It sent out flyers
advertising several of the company’s products along with the new product to select
customers of the target market. The flyer also asked the customers to shop in a mock
store filled with real products, including the new product. In this case, the maker of
Protect Your Hands has used__________.
Answer:
The__________is a government body that has the power to prescribe mandatory safety
standards for almost all products used by customers.
Answer:
A(n)__________is the channel used to convey a message to a target market.
Answer: