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The major influences on the buying process at General Aeronautics Limited include
supply conditions and technological changes, which would both be categorized as
________ factors.
A) organizational
B) individual
C) systemic
D) interpersonal
E) environmental
Answer:
Which of the following price adjustment strategies involves reducing prices to reward
customer responses such as volume purchases, paying early, or participating in
sales-support programs?
A) product bundle pricing
B) captive product pricing
C) product line pricing
D) dynamic pricing
E) discount and allowance pricing
Answer:
Spartan Sportsgear is a company that sells sports equipment for adventure sports. It
recently launched ExtremeSpartan.com to showcase products and provide testimonials
of famous adventure sports athletes who use Spartan's products. It also includes videos
and blogs. Which of the following best describes ExtremeSpartan.com?
A) branded community Web site
B) digital catalog
C) social network
D) podcast
E) blog
Answer:
A strategy of exclusive dealing is most likely considered legal if ________.
A) the industry is newly developed
B) both parties have large territories
C) competition is not substantially lessened
D) the dealer agrees to promote the competitor's products
E) the dealer receives a steady source of supply and support
Answer:
Which of the following is NOT a step in the strategic planning process?
A) defining the company mission
B) setting company objectives and goals
C) designing the business portfolio
D) planning marketing and other functional strategies
E) evaluating members of the company's value chain
Answer:
According to the service profit chain, superior internal service quality results in
________.
A) lesser service value
B) increased word-of-mouth sales
C) reduced after-sale services
D) more satisfied, loyal, and hardworking employees
E) negative brand equity of newly launched products
Answer:
Bose offers $50 cash back to customers who purchase a new speaker and send in a
proof of purchase. This is an example of a ________.
A) rebate
B) POP promotion
C) price pack
D) premium
E) sample
Answer:
After creating a message strategy statement, the advertiser must develop a compelling
________ that will bring the message strategy to life in a distinctive and memorable
way.
A) creative concept
B) customer strategy
C) customer benefit
D) execution style
E) media vehicle
Answer:
Refer to the scenario below to answer the following question(s).
Carol Veldt, owner of Seagull Terrace, watched her investment grow from a small,
seaside motel to a thriving year-round resort in just a few years. Atop a cliff
overlooking the Maine coast, Seagull Terrace had attracted thousands of visitors during
summer, but then faced a tremendous downturn in business during winter. "But, given
the established industries in the nearby towns, very little year-round competition, and
our close proximity to Portland," Carol added, "I couldn't understand why seasonality
had to hit Seagull Terrace so hard!"
So Carol spent her first winter devising a new marketing plan. She put together a
promotional package designed to attract business travelers year-round. Carol's plan also
involved a seasonal promotional gimmickto be implemented from early winter to late
springthat would attract the same numbers as the large summer crowd. Her idea
worked! During her second winter, Carol greeted numerous business travelersboth
satisfied repeat guests as well as new guests who had been snagged by her promotional
appeals.
"We still have a long way to go," Carol admitted. "Our delicatessen offers entrees that
are a part of the local cuisine, but we'd like to expand that. We provide health club
privileges off-site, but we'd like to eventually provide our own. These are goals I hope
to achieve in a few years. Our first project, however, included a renovation of our guest
rooms and I'm quite proud of the results." Carol then added, "Actually there are so
many possibilities. With an indoor pool area, I will eventually offer weekend getaways
throughout winter."
Renovations of the guest rooms at the Seagull Terrace and plans to add an indoor pool
area are examples of the ________ concept.
A) selling
B) marketing
C) product
D) production
E) societal marketing
Answer:
Critics claim that companies in the ________ industries introduce planned streams of
new products that make older models obsolete, a form of planned obsolescence that
harms consumers.
A) car and truck
B) housing and construction
C) food and beverage
D) consumer electronics
E) financial and entertainment
Answer:
Micropolitan areas are ________.
A) likely to have a higher crime rate than metropolitan areas
B) less likely to attract telecommuters
C) likely to offer the same advantages as metropolitan areas
D) less likely to offer market expansion opportunities
E) generally unattractive to niche marketers
Answer:
Consumer research, product development, communication, distribution, pricing, and
service are all core ________ activities.
A) positioning
B) marketing
C) outsourcing
D) production
E) logistics
Answer:
Cause-related marketing has become a primary form of ________.
A) quality control
B) corporate fraud protection
C) corporate giving
D) legislative lobbying
E) price discrimination
Answer:
Andrew Levitt runs a retail store in Norristown. Andrew's store stocks cold weather
products as Norristown mostly has sub-zero temperatures. Which of the following is
evident here?
A) local marketing
B) concentrated marketing
C) segmented marketing
D) mass marketing
E) direct marketing
Answer:
Runners can compare performances, set up profiles, meet new people, and share
information on Nike's Nike+ Web site. Nike+ is an example of a(n) ________.
A) podcast
B) blog
C) online community
D) content sponsorship program
E) kiosk
Answer:
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
Answer:
Kelly works as a sales representative at Ginner Machine Works. She uses the phone and
the Internet to identify prospects and make sales. Kelly calls customers and explains the
products offered by Ginner and the advantages of using them. If requested, she also
mails the customer product information brochures. Which of the following is most
likely Kelly involved in?
A) outside selling
B) technical sales support
C) telemarketing
D) research and administrative backup
E) field sales
Answer:
Which of the following is most likely true about using a pulsing schedule for an ad?
A) The ads would achieve maximum awareness.
B) The costs of advertising would be low.
C) The only effective medium would be radio.
D) The ads would negatively affect the image of the brand.
E) The ads would lack flexibility.
Answer:
A company's marketing should be guided by the sustainable marketing principle of
________ marketing.
A) direct
B) viral
C) buzz
D) value
E) innovative
Answer:
Which of the following exemplifies a pure competitive market?
A) a market where many buyers and sellers trade over a range of prices rather than a
single market price
B) a market where a single firm controls the larger fraction of the market share
C) a market where a few powerful firms control the larger fraction of the market share
D) a market characterized by only a few large sellers
E) a market where many buyers and sellers trade in a uniform commodity
Answer:
Multiprint, a printer manufacturing firm, sells ink cartridges for each of its specific
models. Only Multiprint cartridges are compatible with Multiprint printers, and no two
models share the same specifications. What type of pricing does Multiprint use?
A) product line pricing
B) captive product pricing
C) optional product pricing
D) by-product pricing
E) product bundle pricing
Answer:
Using ________ segmentation, marketers form segments of consumers who have
similar needs and buying behaviors even though they are located in different countries.
A) psychographic
B) demographic
C) occasion
D) benefit
E) intermarket
Answer:
Which of the following is a disadvantage of using a differentiated marketing strategy?
A) generates far lower sales compared to an undifferentiated marketing strategy
B) customer loyalty is negatively impacted and difficult to obtain
C) the costs of doing business increase
D) quality control problems increase
E) product safety decreases
Answer:
As a result of the great success of corporate chains, many independent stores choose to
band together in either a voluntary chain or a(n) ________.
A) factory outlet
B) retailer cooperative
C) wholesale club
D) warehouse club
E) convenience cooperative
Answer:
Critics claim that firms are harmed and competition is reduced when companies expand
by ________.
A) developing their own new products
B) diversifying into new industries
C) acquiring competitors
D) developing new markets
E) initiating joint ventures
Answer:
Which of the following involves adjusting prices to account for the physical location of
customers?
A) location-based pricing
B) geographical pricing
C) domestic pricing
D) interior pricing
E) captive pricing
Answer:
Which of the following marketing strategies is most suitable for smaller firms with
limited resources?
A) mass marketing
B) undifferentiated marketing
C) niche marketing
D) differentiated marketing
E) one-to-one marketing
Answer:
The collection of businesses and products that make up a company is called its
________.
A) strategic business unit
B) supply chain
C) strategic plan
D) business portfolio
E) internal value chain
Answer:
Which of the following is an advantage of a well-designed and targeted telemarketing
plan?
A) exemption from the National Do Not Call Registry
B) ability to portray wider merchandise
C) purchasing convenience for customers
D) interactive infomercials via phone
E) coordination with nearby kiosks
Answer:
When consumers are highly involved with an expensive, infrequent, or risky purchase
but see little difference among brands, they most likely will exhibit ________.
A) habitual buying behavior
B) complex buying behavior
C) impulse buying behavior
D) dissonance-reducing buying behavior
E) consumer capitalism
Answer:
Herbie Inc., a firm manufacturing sandwich makers, has fixed costs of $250,000,
variable costs of $20 per unit of output, and expected unit sales of 50,000 units. What is
the unit cost of a sandwich maker manufactured by Herbie?
A) $15
B) $25
C) $30
D) $50
E) $75
Answer:
To remain number one, leading firms can take any of three actions. First, they can find
ways to expand total demand. Second, they can protect their current market share
through good defensive and offensive actions. Third, they can ________.
A) focus exclusively on divestment
B) evaluate current employees and reduce costs through downsizing
C) run smaller companies out of business, causing them to sell out to larger firms
D) try to expand their market share further, even if market size remains constant
E) shut down current company locations and reopen in highly populated areas
Answer:
Wholesome Soups, a maker of organic soups, is starting a new marketing campaign
emphasizing the ease of preparing and eating Wholesome Soups. Print, television, and
Internet ads feature college students enjoying Wholesome Soups in between classes and
during study breaks. Wholesome Soups' new marketing campaign is most likely aimed
at which of the following?
A) Baby Boomers
B) Gen Zers
C) Gen Xers
D) Millennials
E) the SOHO market
Answer:
For the past ten years, Bill and Margaret have saved money to go to the Super Bowl
should their team, the Chicago Bears, reach the finals of the NFC championship. This is
the year, and several tour companies offer attractive, but very similar, packages to the
game. Since all packages are pretty much the same, they have chosen one that fits their
budget. Bill and Margaret are most likely exhibiting ________.
A) complex buying behavior
B) dissonance-reducing buying behavior
C) habitual buying behavior
D) consumer capitalism
E) consumer ethnocentrism
Answer:
Many companies have developed ________ programs that encourage employees to
develop new product ideas.
A) management
B) incentive
C) entrepreneurial
D) intrapreneurial
E) crowdsourcing
Answer:
