One of the benefits of EDI is that it can reduce lead time, which is
A. the time between the decision to place an order and the receipt of the merchandise.
B. the time from when an RFP is announced to the time a consumer purchases the
finished product.
C. the time from when funds are committed for purchase of raw materials to the time
when the payment for the finished goods is actually received.
D. the time between when finished goods leave the manufacturer and when they arrive,
floor-ready, at the retailer.
E. the time between when an item is sold to a customer and when a replacement is
made available for purchase by another customer.
Answer:
Today, __________ dominate supply chains.
A. large retailers
B. manufacturers
C. government agencies
D. wholesalers
E. distributors
Answer:
From a marketing perspective, what role is played by professional bloggers?
A. engaging customers on behalf of companies
B. introducing new products to the marketplace
C. sharing videos and photos of products
D. recruiting employees
E. reviewing and giving product recommendations
Answer:
Retailing is defined as the set of business activities that
A. focuses on a firm’s core values.
B. focuses on transactions, but not relationships.
C. adds value to products and services sold to final consumers.
D. separates wholesaling from manufacturing.
E. occurs only in brick-and-mortar space.
Answer:
In omnichannel retailing, what visible element must often be adjusted because of
competition faced in different channels?
A. supply chain
B. return policies
C. pricing
D. distribution
E. place
Answer:
In the product development process, what takes place between concept testing and
market testing?
A. securing financial backing
B. conducting marketing research
C. brainstorming
D. determining potential ROI
E. performing product development
Answer:
Many product-dominant firms use quality service
A. as a way to minimize the cost of production.
B. to support a standards gap.
C. as a way to increase the perishability of their products.
D. to install a voice-of-customer program.
E. to maintain a sustainable competitive advantage.
Answer:
Jennifer has worked for many years reviewing and approving print ads for her firm. She
has memorized a checklist of key points to review. Which of the following would not be
on her checklist?
A. headline
B. body copy
C. brand elements
D. photo credits
E. subheads
Answer:
A __________ is a document used by a forklift driver indicating how much of each
item to get from specific storage areas.
A. pick ticket
B. warehouse receipt
C. bill of lading
D. certificate of origin
E. RFID tag
Answer:
The attitudes that Ryan’s customers develop after they have purchased his yearly lawn
care service will become the basis for determining whether they renew each year. He
needs to be ____________, quickly addressing any problems that occur.
A. reliable
B. responsive
C. assuring
D. empathic
E. tangible
Answer:
If a firm adopts a CRM business philosophy, it most likely has a(n) _______ orientation
with its customers.
A. transactional
B. external
C. relational
D. internal
E. divisional
Answer:
Yolanda manages a Best Sleep Inn along an interstate highway. She knows from
experience that 5 to 10 last-minute customers will call after 8 p.m. each evening
looking for a room and asking the price. Yolanda has empowered her staff to offer
discounts when the motel is largely vacant and to quote the standard price when the
motel is close to full. She knows her service is __________, meaning that if no one
stays in the room, it generates no revenue that evening.
A. intangible
B. inseparable
C. heterogeneous
D. durable
E. perishable
Answer:
Effective promotion enhances a product or service’s
A. supply chain management system.
B. wholesaling capabilities.
C. perceived value.
D. design features.
E. trialability.
Answer:
Although firms such as restaurants have difficulty controlling service quality from day
to day, they do have control over
A. how they communicate the services they promise.
B. the price of ingredients.
C. the attitudes of customers.
D. the way customers view them compared to competitors.
E. the knowledge gap consumers create.
Answer:
Students of marketing often overlook or underestimate the importance of place in the
marketing mix simply because
A. it happens behind the scenes.
B. it conflicts with promotion.
C. it occurs after making pricing decisions.
D. no one is directly in charge of place decisions.
E. the product itself is so much more important.
Answer:
Dynamic pricing is also referred to as _______ pricing.
A. complementary
B. substitution
C. break-even
D. target return
E. individualized
Answer:
Brad is working on the creative design for his company’s new ad campaign. This is his
first major assignment. His boss reminds him that when writing a headline, it should
A. represent the main text of the ad.
B. identify the sponsor of the ad.
C. use jargon and complex terminology.
D. overshadow the visual message.
E. be short and use simple words.
Answer:
A wholesaler is an example of a
A. reseller.
B. merchandiser.
C. reference group.
D. manufacturer.
E. retailer.
Answer:
Evelyn knows that prospective customers are likely to raise reservations about price and
quality. She needs to convince customers that her products represent
A. time savings.
B. a good value.
C. the least expensive choice available.
D. average quality for an average price.
E. an environmental achievement.
Answer:
What is the problem associated with service quality standards such as “be nice” or “do
what the customers want”?
A. They create low expectations.
B. They are not specific.
C. They do not allow for the voice-of-customer process.
D. Most employees are unwilling to do what customers want.
E. They create a delivery gap.
Answer:
Quincy had no idea how consumers would respond to a survey about attitudes toward a
program opening up space travel to private citizens. He could use __________ to allow
respondents to answer in their own words.
A. secondary data
B. an observational study
C. an experiment
D. a structured questionnaire
E. a survey with open-ended questions
Answer:
__________ is the term used to describe the situation when retailers use some
combination of stores, catalogs, and the Internet to sell merchandise.
A. Vertical channel integration
B. Cross-channel leverage
C. Horizontal channel integration
D. Omnichannel retailing
E. Opportunistic retailing
Answer:
Marketers that include ethical statements in the firm’s mission or vision statements are
introducing ethics at which stage of the strategic marketing planning process?
A. implementation phase
B. control phase
C. planning phase
D. evaluation phase
E. idea generation phase
Answer:
Which of the following is the best example of a reminder advertising message?
A. “Buy now, pay later.”
B. “Doing business in Peoria since 1848.”
C. “Buy one, get one free.”
D. “Now availablethe latest fall fashions.”
E. “New and improved!”
Answer:
Marketers involved in value-oriented marketing are constantly balancing
A. promotional effectiveness with ethical advertising standards.
B. the problem of price maximization with cost-efficiency.
C. perceived customer benefits with the costs of their offerings.
D. the desire to achieve with the need for a stable source of supply.
E. the goal of efficiency with the price charged by competitors.
Answer:
It is often difficult for retailers to distinguish themselves from their competitors through
the merchandise they carry because
A. they do not carry enough merchandise.
B. consumers no longer recognize brand equity.
C. big-box food retailers are shifting into specialty store product lines.
D. there is not enough merchandise to go around.
E. competitors can purchase and sell many of the same popular brands.
Answer:
Consumers use and process different aspects of advertising or messages. __________
yields greater attention and deeper processing, and leads to strong attitudes and
purchase intentions.
A. An external locus of control
B. High involvement
C. Low involvement
D. Differential content
E. Internet advertising
Answer:
When firms successfully implement poor strategies (perhaps due to good luck) or do a
poor job of implementing good strategies, it can be difficult to
A. generate cost-based performance ratios.
B. evaluate performance and make adjustments.
C. increase product excellence without reducing customer excellence.
D. develop segmentation strategies.
E. choose a business mission.
Answer:
An emotional appeal aims to satisfy consumers’ __________, while an informational
appeal speaks to consumers’ __________.
A. needs; desires
B. institutional focus; personal focus
C. emotional desires; utilitarian needs
D. top-of-the-mind awareness; bottom-of-the-mind reactions
E. cost-consciousness; imaginations
Answer:
According to a typical demand curve, the higher the price,
A. the greater the income effect.
B. the lower the quantity consumers will buy.
C. the lower the output of producers.
D. the greater the production costs.
E. the lower the cross-price elasticity.
Answer:
All of the following terms are generally associated with the definition of corporate
social responsibility except
A. voluntary.
B. stakeholders.
C. social impact.
D. environmental impact.
E. profit.
Answer: