The sales manager told the salesperson, “Your goal is to increase sales volume for the
second quarter 5 percent over the sales volume of the first quarter.” The sales manager
voiced a(n) __________ sales objective.
A. output-related
B. input-related
C. behaviorally-related
D. cold-call related
E. market-related
Answer:
All of the following are competition-oriented approaches to selecting an approximate
price level EXCEPT:
A. loss leader pricing.
B. customary pricing.
C. above-market pricing.
D. skimming.
E. at-market pricing.
Answer:
Lady Marion Seafood, Inc. sells 5-pound packages of Alaskan salmon. Assume that its
unit variable cost per package is $30 and its fixed cost is $250,000. It wants a target
profit of $38,000 based on a volume of 16,000 packages. What should the firm charge
for a 5-pound package of salmon?
A. $25.00
B. $33.94
C. $40.00
D. $48.00
E. $61.25
Answer:
Effective decision makers rely on criteria or standards known as __________ that are
used in evaluating proposed solutions to a problem.
A. marketing dashboards
B. descriptive research
C. constraints
D. problem definitions
E. measures of success
Answer:
A sales promotion in which the consumer is invited to apply their skill or analytical or
creative thinking to try to win a price is referred to as a __________.
A. contest
B. challenge
C. competition
D. sweepstakes
E. public relations campaign
Answer:
The two major purposes for any trademark statute are to
A. (1) protect the investment of energy, time, and money that the owner of a trademark
has invested in the development of the product and (2) guarantee the owner of the
trademark complete rights to his work for the duration of the owner’s lifetime.
B. (1) protect the inventor’s individual rights and (2) provide the company with the
maximum profits possible.
C. protect the rights of the inventor both here and abroad.
D. (1) protect the public so they will get the product it wants and asks for and (2)
protect the government so it will be able to collect its fair share of taxes from the
revenues generated.
E. (1) protect the firm selling the trademarked product and (2) protect the consumer
buying the product.
Answer:
The greatest concern consumers may have regarding the convergence of the real and
digital worlds is
A. the elimination of traditional media; all media will become digital.
B. a decreased emphasis on measuring the marketing return on investment for social
media initiatives.
C. the interference with personal privacy as personal data gets shared within and across
social media.
D. the proliferation of ads and sponsored stories on social networking sites that reduce
click-through rates.
E. the absence of digital cash to complete the near field communication transaction
process.
Answer:
Salesperson Performance Tracking Marketing Dashboard at MooreChem
Consider the Marketing Dashboard above, which includes metrics for salesperson
performance tracking for MooreChem. As a MooreChem sales manager, you note that
one of your salespeople has exceeded his sales target but is well below his profit goal.
The best explanation for this performance is
A. the salesperson has not been working hard enough.
B. the salesperson is selling too many high margin products.
C. the salesperson’s sales quota is too low.
D. the salesperson is selling too many low margin products.
E. the salesperson’s sales quota is too high.
Answer:
George Zimmer, the former CEO of Men’s Wearhouse, was known to the public as the
bearded company pitchman who sells suits and sport coats on TV declaring, “You’ll like
the way you look, I Guarantee it!” He also said that to be successful, “You’ve got to
have a company that starts with trust and fairness.” Zimmer was attempting to establish
a(n) ___________ for Men’s Wearhouse.
A. vision
B. mission statement
C. pathos
D. behavioral protocol
E. organizational culture
Answer:
Companies can employ four general branding strategies, which include: (1)
__________; (2) multibranding; (3) private branding; or (4) and mixed branding.
A. retailer branding
B. intermediary branding
C. brand licensing
D. multiproduct branding
E. co-branding
Answer:
Suppose the following information: The cost of a full page color ad in the U.S. national
edition of The Wall Street Journal (newspaper) is $327,897 and its U.S. audience size is
1,566,027. The cost of a full page color ad in the U.S. national edition of U.S.A. Today
(newspaper) is $207,720 and its U.S. audience size is 1,711,696. The cost of a full page
color ad in the U.S. national edition of Bloomberg Businessweek (magazine) is
$148,300 with an audience size of 900,000. The cost of a full page color ad in the U.S.
national edition of Sports Illustrated (magazine) is $396,600 and has an audience size of
3,000,000. The cost of a 30-second ad on the most recent Super Bowl (television) is
$3,800,000 and has an audience size of 108,400,000. Using this information, which of
the five media alternatives has the HIGHEST CPM?
A. The Wall Street Journal
B. U.S.A. Today
C. Bloomberg Businessweek
D. Sports Illustrated
E. Super Bowl
Answer:
The stage of the new-product process that exposes actual products to prospective
consumers under realistic purchase conditions to see if they will buy is referred to as
A. development.
B. market testing.
C. business analysis.
D. commercialization.
E. screening and evaluation.
Answer:
A marketing manager goes through several steps to put a market segmentation plan into
effect. This includes being able to form market segments and then __________ without
encountering excessive costs.
A. eliminate potential non-buyers
B. identify segmentation variables
C. select the market segment(s) to target
D. redirect their purchase behaviors
E. ignore any and all similarities
Answer:
Sales exhibit a steady downward trend throughout which stage of the product life cycle?
A. introduction
B. decay
C. reposition
D. maturity
E. decline
Answer:
There are three approaches to viral marketing. Marketers can: (1) __________; (2)
make the website content so compelling that viewers want to share it with others; and
(3) offer incentives for referrals.
A. embed a message in the product or service
B. use customerization
C. use choiceboards
D. use niche marketing
E. use permission marketing
Answer:
Raw materials, such as grain or lumber as well as assemblies or parts, are referred to as
A. production goods.
B. components.
C. accessories.
D. support products.
E. raw assemblies.
Answer:
In terms of new product purchases, early adopters
A. have a fear of debt and use neighbors and friends as information sources.
B. are skeptical and have below average social status.
C. are deliberate and use many informal social contacts.
D. are leaders in social settings and have a slightly above average education.
E. are venturesome, highly educated, and use multiple information sources.
Answer:
All of the following statements are true about coupons EXCEPT:
A. coupon redemption rates have been increasing in recent years as the weak economy
has increased the attractiveness of coupons.
B. companies that have decreased their use of coupons as redemption rates have fallen.
C. the number of coupons generated at Internet sites and on mobile phones has been
increasing.
D. online coupons only account for a small percentage of total coupon redemptions.
E. most coupons are distributed as freestanding inserts in newspapers.
Answer:
Johnson Controls can receive an order for automobile seats from Ford and deliver the
order four hours later, beginning with raw materials and ending with delivery of the
finished seats to Ford. As used by Johnson Controls, logistics
A. creates utilities for Ford.
B. provides Ford with a cost-effective dual distribution system.
C. increases the number of steps in the value proposition creation process.
D. includes the role of Johnson controls as a channel captain.
E. does not influence Ford’s supply chain.
Answer:
Figure 4-4
In Figure 4-4 above, E represents the
A. consumer purchase decision process.
B. organizational buying decision process.
C. marketing research process.
D. marketing program.
E. consumer socialization process.
Answer:
Figure 16-1
Based on the social media identified in Figure 16-1 above, the social media site rated
HIGHEST in self-disclosure is
A. Facebook.
B. LiveJournal.
C. Wikipedia.
D. WordPress.
E. Farmville.
Answer:
Sales arising from cross-channel shoppers dwarf exclusive online retail sales. Retail
sales revenue from cross-channel shoppers today is estimated to be about __________
times greater than online retail sales.
A. two
B. three
C. five
D. seven
E. ten
Answer:
There are seven commonly used organizational buying criteria. One of them is
__________.
A. consumer demand
B. promotional incentives
C. longevity
D. senior management directives
E. warranties and claim policies
Answer:
Figure 2-3a
According to Figure 2-3a above, which of the following is the largest Website Traffic
Source?
A. YouTube
B. Direct traffic
C. Google
D. Facebook
E. Twitter
Answer:
Figure 2-5
Consider Figure 2-5 above. A family owns a gelato business in a small town square next
to a park, a favorite place for parents and children to stop on their way home from work
or school. However, the business owner is barely making ends meet. He doesn’t want to
give up his store but in addition he begins selling hand-made flies on the Internet for
professional sports fishermen. This is an example of a __________ strategy that would
be found in quadrant __________.
A. market penetration; A
B. product development; B
C. market development; C
D. -product-market expansion; D
E. diversification; D
Answer:
A company paying a set amount to Facebook for every time a user clicks on its ad is
known as __________, whereas a company that pays pennies for every 1,000 times its
ad loads on a Facebook page and people may see it is referred to as __________.
A. variable fee; fixed fee
B. cost per click; cost per thousand
C. fixed fee; variable fee
D. cost per thousand; cost per click
E. traditional cost; social media cost
Answer:
List and describe the three types of pretests that can be conducted before advertising is
placed in the media.
Answer:
Creating product assortments from several sources to serve customers would be an
example of a __________ function performed by a channel intermediary.
A. transactional
B. facilitating
C. selling
D. logistical
E. risk taking
Answer:
Alex has just completed measuring the results of her firm’s product performance. Her
next step will be to
A. do a profitability analysis.
B. take necessary corrective actions.
C. bring these to the marketing auditor.
D. proceed regardless of deviations from original plans.
E. compare the results against the goals specified in the marketing plan.
Answer:
An administered vertical marketing system refers to a marketing system
A. that achieves coordination at successive stages of production and distribution by
contractual agreements between channel members.
B. that achieves coordination at successive stages of production and distribution by
cooperation and consensus among all members of the marketing chain.
C. that achieves coordination at successive stages of production and distribution by the
size and influence of one channel member rather than through ownership.
D. where a channel member (producer, wholesaler, or retailer) is elected to coordinate,
direct, and support all other channel members.
E. that is run and coordinated completely outside the traditional chain of distribution by
a firm that specializes in that industry’s specific logistics needs.
Answer:
Segmentation based on some subjective mental or emotional attributes, aspirations, or
needs of prospective customers is referred to as
A. behavioral segmentation.
B. affective segmentation.
C. socioeconomic segmentation.
D. psychographic segmentation.
E. psychosocial segmentation.
Answer:
When compared to Generation X, members of Generation Y are most likely to influence
A. children’s designer clothing lines.
B. health care and insurance.
C. all forms of communication.
D. retirement plans.
E. automobile design.
Answer:
Because many companies are concerned with the depletion of natural resources, supply
partnerships often include provisions for
A. green marketing.
B. regulatory exemptions.
C. stakeholder procurement.
D. ecological procurement.
E. sustainable procurement.
Answer:
Who said the following quote: “There is one and only one social responsibility of
business – to use its resources and engage in activities designed to increase its profits so
long as it stays within the rules of the game, which is to say, engages in open and free
competition without deception or fraud.”?
A. Federal Reserve Chairman Ben Bernanke
B. Nobel Laureate Paul Krugman
C. President Barack Obama
D. Nobel Laureate Milton Friedman
E. President Ronald Reagan
Answer: