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Josh received an e-mail stating that he had won a lottery of $500,000 from Lottors
Corporation. The e-mail asked Josh to send his bank account details and social security
number to transfer cash directly to his account. Josh did not remember buying any
lottery tickets, and so was apprehensive about providing his bank details without
verification. Which of the following is illustrated from this scenario?
A) adware
B) viral marketing
C) telemarketing
D) cyberbullying
E) phishing
Xerox Corporation's Equipment Remanufacture and Parts Reuse Program converts
end-of-life office equipment into new products and parts. This not only helps sustain the
environment, but it is also highly profitable for the company. This practice is an
example of a ________.
A) pollution prevention practice
B) green marketing practice
C) beyond greening practice
D) cradle-to-cradle practice
E) new environmental technology
By 2050, ________ will be an estimated 15 percent of the U.S. population.
A) African Americans
B) Asians
C) Hispanics
D) Native Americans
E) Native Hawaiians
A company is guilty of ________ if the company forgets latent competitors and only
focuses on current competitors.
A) perfect competition
B) self-competition
C) Cournot competition
D) competitor backlinking
E) competitor myopia
________ refers to a market-coverage strategy in which a firm decides to ignore market
segment differences and go after the whole market with one offer.
A) Individual marketing
B) Local marketing
C) Niche marketing
D) Undifferentiated marketing
E) Segmented marketing
John assured his venture capitalists an earning of 25-percent return on equity when he
began his IT startup. In order to achieve this result, he will most likely use which of the
following pricing approaches?
A) value-based pricing
B) markup pricing
C) EDLP
D) customer-based pricing
E) target return pricing
Sail Metalworks Inc. is currently looking for the best vendors of metal sheets. In other
words, Sail Metalworks is ________.
A) preparing a general needs description
B) deciding on product specification
C) conducting a supplier search
D) preparing an order-routing specification
E) reviewing suppliers' performance
In the marketing mix, place includes ________.
A) logistics
B) discounts
C) sales promotion
D) advertising
E) packaging
Refer to the scenario below to answer the following question.
Ruben Delgado was making wooden pens and pencils, which had unique engravings, as
a hobby until Simon Yoder recognized Ruben's talent. Simon immediately ordered 250
pens and pencils of various styles to be displayed in his shop's showcase. Within three
months, the wooden pencils were a hit with all students! Ruben Delgado had never
thought of marketing his talent, but Simon's enthusiasm and the recent sales were
enough to change his mind.
With limited resources, Ruben contacted three additional specialty shops within 100
miles that were situated near schools. He explained his manufacturing processes and
engraving options to each. All three shop owners placed a trial order. Within two
months, just prior to the holiday season, each shop owner placed an additional order.
Ruben was ecstatic! "I figured business would slow down after that," Ruben stated, "but
in February I was contacted by Elmore Distributors. At that point, I had to make a huge
decision about how far I wanted to go with this business."
Elmore Distributors provides products for school fundraisers in a seven-state area.
Ruben was offered a two-year contract and immediate inclusion in Elmore's
promotional flyer. Ruben Delgado accepted the offer and, along with it, the
responsibility to produce thousands of wooden pens and pencils. "I had to get a grip on
the magnitude of this project," Ruben added. He decided to place his major focus on the
large contract with Elmore. However, to avoid placing his total emphasis with one
customer, Ruben continued nurturing his four previously established accounts without
targeting any additional customers.
"At this point, I had set up an assembly line in a rented building," Ruben explained. "I
had to hire three full-time employees to work the line while I managed the customer
orders and purchased materials." Ruben paused. "But I can't take the Elmore project for
granted. It might not always be there. I'll have to have a good alternate plan if that day
comes."
In marketing his wooden pens and pencils to specialty-shop customers, Ruben was most
likely using ________ marketing.
A) mass
B) trigger-based
C) concentrated
D) segmented
E) individual
Product mix ________ refers to the number of different product lines the company
carries.
A) length
B) height
C) width
D) consistency
E) depth
After successfully overcoming a potential customer's objection to buying the vacuum
cleaner he was selling, Terrence, a salesperson, asked the customer for an order.
Terrence is in the ________ stage of the selling process.
A) follow-up
B) approach
C) preapproach
D) closing
E) prospecting
Gainville Inc. manufactures Android phones. Each new Gainville phone launch
advances the cause of democratizing technology. Gainville, an expert in fostering
customer community, engages customers at a deep, emotional level, and has been
ranked one of the Breakaway Brands by the brand consultancy Kendell Associates.
Gainville is most likely positioned on ________.
A) basic product attributes
B) short-term benefits
C) service variability
D) self-image enhancement
E) strong beliefs and values
The advertisements that use the Aflac duck or the GEICO gecko are using the message
execution style of ________.
A) lifestyle
B) technical expertise
C) testimonial evidence
D) slice of life
E) personality symbols
McDonald's, Subway, and Jiffy Lube are all examples of ________.
A) voluntary chains
B) retailer cooperatives
C) franchises
D) category killers
E) power centers
When a media planner determines whether an advertisement for diapers should be
placed in Parents magazine or Sports Illustrated magazine, the planner is evaluating the
media vehicle's ________.
A) profit margin
B) flexibility
C) rate of depreciation
D) audience quality
E) cost per exposure
In ________, companies put their purchasing requests online and invite suppliers to bid
for the business.
A) product specification
B) supplier search
C) reverse auctions
D) procurement
E) problem recognition
Different soft drinks target different personalities. This is an example of ________
segmentation.
A) psychographic
B) demographic
C) occasion
D) life-cycle
E) benefits
Manufacturers must comply with specific laws regarding ________.
A) profit margins
B) product quality and safety
C) product harvesting
D) distribution channel length
E) product life cycles
When major chain retailers avoid placing stores in disadvantaged neighborhoods, they
are likely to be accused of the discriminatory practice of ________.
A) embargo
B) licensing
C) redlining
D) puffery
E) scrambled merchandising
Some fast-food restaurants offer tasty and convenient food at affordable prices, but in
doing so they contribute to a national obesity epidemic and environmental problems.
These fast-food restaurants overlook the ________ philosophy.
A) marketing concept
B) product concept
C) production concept
D) societal marketing concept
E) selling concept
Companies set not a single price, but a pricing ________ that covers different items in
its line and changes over time as products move through their life cycles.
A) by-product
B) structure
C) loop
D) cycle
E) bundle
Which of the following is a negative aspect of a competitor-centered company?
A) It may end up simply matching industry practices.
B) It fails to identify competitors' weaknesses.
C) It becomes stable and unreactive.
D) It fails to notice weaknesses in its own position.
E) It fails to develop a fighter orientation.
Since secondary data provide a good starting point for research and often help define
problems and research objectives, companies do not need to collect primary data.
In 2011, the fixed costs of a company were $500,000, and its variable costs equaled
$150,000. In 2010, the company made an annual profit of $200,000. It has been
predicted that, despite a steady growth, the company's variable costs will likely equal
$300,000 by 2013. The total costs of the company in 2011 were ________.
A) $350,000
B) $450,000
C) $650,000
D) $800,000
E) $950,000
________ refer to people in an organization's buying center who affect the buying
decision; they often help define specifications and provide information for evaluating
alternatives.
A) Users
B) Influencers
C) Buyers
D) Gatekeepers
E) Deciders
