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Which of the following organizational growth strategies involves the creation of new
products?
A. Diversification strategy
B. Cost leadership strategy
C. Market development strategy
D. Market penetration strategy
Answer:
Which of the following organizational growth strategies aims to find new customers for
its present products?
A. Customer retention strategy
B. Product differentiation strategy
C. Market development strategy
D. Market penetration strategy
Answer:
Market factors include:
A. shorter product life cycles, transferable brands and advertising, and the ability to
globalize distribution channels.
B. worldwide economies of scale in manufacturing and distribution, steep learning
curves, and worldwide sourcing efficiencies.
C. improving communications, favorable government policies, and the increasing speed
of technological change.
D. competitive interdependencies among countries, global moves of competitors, and
opportunities to preempt a competitor's global moves.
Answer:
_____ is estimated by dividing relative changes in the quantity sold by the relative
changes in price.
A. Price skimming
B. Cost-plus pricing
C. Rate-of-return pricing
D. Price elasticity
Answer:
Which of the following is an advantage of magazines over newspapers as an advertising
medium?
A. Long closing periods
B. Intense coverage of local markets
C. High believability of printed word
D. Quality of reproduction
Answer:
A manufacturer of _____ is most likely to use selective distribution.
A. paper clips
B. microwave ovens
C. nail clippers
D. aerated drinks
Answer:
Which of the following is an attribute that can be changed to alter a product?
A. Product price
B. Promotion strategy
C. Distribution channel
D. Product packaging
Answer:
Products that are equivalent to national brands but are priced much lower are called
_____.
A. prestige brands
B. private label brands
C. generic product brands
D. dual brands
Answer:
Irene considers herself to be an expert on gourmet cuisine, and she has dined at many of
the finest restaurants in the United States. On a recent trip to New Orleans, she refused
to eat at a restaurant that was reported to have some of the best Cajun food because she
thought the décor was tacky and outdated. Which situational influence explains
Irene's refusal to eat at the restaurant?
A. Marketing mix
B. Task features
C. Reference groups
D. Physical features
Answer:
Japanese automobile manufacturer, Nuriko, expanded its operations to the United
States. The research executives at the company examined the homogenous market
needs of its customers and released sedans and SUVs, both of which achieved
immediate success in the U.S. market. The automobile manufacturer's triumph can be
attributed to _____.
A. environmental factors
B. economic factors
C. competitive factors
D. market factors
Answer:
_____ involves interacting with a single respondent for several hours and is designed to
find out the meanings various products and brands have for an individual.
A. Observational research
B. A long interview
C. Mathematical modeling
D. An experiment
Long interviews are conducted by an interviewer with a single respondent for several
hours. They are designed to find out such things as the meanings various products or
brands have for an individual or how a product influences a person's life.
Answer:
According to the marketing concept, the customer will be more satisfied and the firm
will be more profitable when the:
A. organizations and customers have a long-term relationship.
B. organization's marketing process is solely product-oriented.
C. products are advertised frequently but have no clear target markets.
D. firm operates primarily through a selling orientation in the market.
Answer:
Which of the following is true of brand equity?
A. Organizational products cannot have brand equity.
B. Brand equity is a company's evaluation of its products and sales figures.
C. Advertising does not have any effect on brand equity.
D. Brand equity is determined by the consumer.
Answer:
When retailers feature brands in their advertisements to attract buyers, they are
indirectly or directly supporting _____.
A. manufacturers
B. vendors
C. wholesalers
D. consumers
Answer:
In the context of global market research, which of the following statements is true about
the use of census data for in-depth demographic information?
A. All countries have census data.
B. All foreign nations must include an income-based question on their census.
C. Data contained in a census vary from country to country.
D. All nations publish their census reports in English.
Answer:
The workforce of Pluton, is highly skilled and dedicated. They possess excellent
linguistic abilities which enable them to communicate well with people from different
countries, and as a result, exports and tourism have flourished more in Sansania than its
neighboring countries. Sansania has established a competitive advantage over its
neighboring countries due to:
A. favorable demand conditions.
B. a good country strategy and structure.
C. good related and supporting industries.
D. favorable factor conditions.
Answer:
An article in a local newspaper ranks the facilities of nursing homes in the immediate
neighborhood on the basis of cleanliness, staff-patient ratio, on-staff care providers, and
other key determinants. This article would be a typical example of a(n) _____ source of
information.
A. marketing
B. social
C. experiential
D. public
Answer:
An organization's mission statement is described as not ruling out any opportunity
management might wish to pursue. This mission statement is most likely to be _____.
A. too distinctive
B. incomplete
C. too broad
D. too specific
Answer:
Kelly, who wants to buy an exercise machine, sees an advertisement in the local
newspaper for a fitness equipment store. She notices that the store showcases the model
she wants. This is an example of _____ on product knowledge.
A. group influence
B. situational influence
C. marketing influence
D. product influence
Answer:
When a sales prospect raises an objection, a salesperson should:
A. know that the prospect is not ready to buy.
B. challenge the respondent.
C. refrain from overwhelming the prospect with too much information.
D. try and attempt to secure another appointment.
Answer:
Which of the following individuals typically represents the American middle class?
A. Helena spends her high income toward purchase of prestige brands and quality
merchandise.
B. Eva is concerned with fashion and always reads expert reviews and
recommendations in the media before making a purchase.
C. Sally depends heavily on her relatives for emotional and economic support.
D. Frieda focuses on the recreational and mechanical aspects of life alike and pursues
ease of labor.
Answer:
Owing to his keen interest in cooking, Adam enrolled for a membership at the
Delicacee Culinary Association. He was issued a membership card that contained
details of the terms of the membership along with dates of validity and renewal. Adam
was entitled to participate in the various programs organized by the association. Which
of the following statements is true of the relationship between Adam and the
institution?
A. The card would serve as a representation of Adam's preferred cuisines.
B. The card would give tangible proof that Adam had definitely learned the art of
cooking.
C. Adam's membership card will get him a job as a chef in a reputable restaurant.
D. The card was tangible proof that Adam belonged to the culinary association.
Answer:
Which of the following statements is true about multidomestic companies?
A. Multidomestic companies tend to view the world as one market and pit their
resources against competition in an integrated manner.
B. Local managers of multidomestic companies are given the authority to make the
necessary decisions and are held accountable for results.
C. Multidomestic companies pursue the same strategies in each of their foreign
markets.
D. Multidomestic companies standardize marketing activities when there are cultural
similarities and adapt them when cultures are different.
Answer:
Wallflower Inc. sells cards, gift-wrapping materials, and collectibles. To boost sales of
its existing products, Wallflower added fresh cut flower arrangements as part of its
product offering. In which of the new product categories would the floral arrangements
fall?
A. New-to-the-world products
B. New-to-the-firm products
C. Product repositionings
D. Product improvements
Answer:
