All of the following are consumer-related data that comprise a direct marketing
database (such as for a catalog) EXCEPT:
A. media usage.
B. demographics.
C. past purchases.
D. personality type.
E. lifestyles.
Answer:
Figure 6-3
According to Figure 6-3 above, point C would most likely represent what option for
entering the global marketplace?
A. exporting
B. joint venture
C. direct investment
D. licensing
E. franchising
Answer:
Consumers and companies populate two market environments today. One is the
traditional __________ and the other is the __________.
A. extranet; intranet
B. superstore; hypermarket
C. marketplace; marketspace
D. shopping mall; virtual mall
E. online store; virtual store
Answer:
Business Card Exchange Photo
Consider the Business Card Exchange Photo shown above. Exchanging business cards
in Asia is done according to the customs and norms of the country or region. This
protocol is considered important during which stage of the personal selling process?
A. presentation
B. follow-up
C. preapproach
D. close
E. approach
Answer:
Increases in discretionary income can occur as a result of all of the following EXCEPT:
A. an increase in gross income.
B. a decrease in taxes.
C. an increase in disposable income.
D. a decrease in housing costs.
E. an increase in interest rates.
Answer:
A collection of databases that store, organize, and manage data sources is called a
__________.
A. data vault
B. data depot
C. data storehouse
D. data warehouse
E. data stockroom
Answer:
A small businesswoman was preparing her staff for the upcoming holiday season. Her
women’s apparel retail store has had a great year – sales and profits were up 20 percent.
In a meeting with her sales staff before opening the store on Black Friday, the day after
Thanksgiving, she said, “We want to move as much inventory as possible. Not only can
we highlight our holiday items, why don’t we also mark down some of our other
seasonal items while people are in a shopping mood?” From this statement, she is
concerned with a __________ goal.
A. profit
B. sales
C. market share
D. customer satisfaction
E. survival
Answer:
Retailers and industrial distributors prefer exclusive distribution for two reasons. One is
that __________.
A. it is the most common form of distribution intensity
B. it eliminates channel conflict
C. it is usually chosen for convenience
D. it has market coverage benefits
E. it limits head-to-head competition for an identical product
Answer:
Procter & Gamble Co. created an advertisement for its Old Spice Red Zone Swagger
antiperspirant. In terms of the communication process, the __________ in the ad
informed prospective customers that the antiperspirant offered more protection than the
Old Spice High Endurance brand.
A. lesson
B. message
C. meme
D. source
E. feedback
Answer:
The largest inventory of wedding dresses in the Southeast can be found at Low’s Bridal
and Formal in Brinkley, Arkansas. From December 26 to January 16, a prospective
bride shopping at Low’s can find gowns once priced at $6,000 for $2,999 and $800
gowns for $399. The reduced prices of these gowns are reflected in which retail pricing
strategy?
A. markdowns
B. original markups
C. future markups
D. inventory shrinkages
E. net markups
Answer:
The means (salesperson, advertising media, or public relations tools) of conveying a
message to a receiver is referred to as a(n) __________.
A. vehicle
B. field of experience
C. channel of communication
D. direct feedback loop
E. information highway
Answer:
An industrial firm
A. is one that is independently owned and takes title to the merchandise it sells.
B. buys physical goods and resells them again without any reprocessing.
C. deals exclusively with federal, state, and local governments.
D. in some way reprocesses a product or service it buys before selling it again to the
next buyer.
E. only produces a product, not a service.
Answer:
In the context of organizational direction, a business refers to
A. the daily operational decisions that must be implemented for an organization to
remain viable.
B. exchange transactions between seller and buyer in order for the seller to make sales
and earn profits.
C. the clear, broad, underlying industry or market sector of an organization’s offering.
D. an organization that develops an offering.
E. the objectives of a firm and the strategies and tactics that will allow it to achieve
them.
Answer:
A reference group that a person wishes to maintain distance from because of differences
in values or behaviors is referred to as a(n) __________ group.
A. socialization
B. associative
C. aspiration
D. dissociative
E. integrated
Answer:
Figure 11-2
Figure 11-2 above represents the four approaches to selecting an appropriate price level.
Box A represents which approach?
A. cost-oriented approach
B. profit-oriented approach
C. competition-oriented approach
D. demand-oriented approach
E. results-oriented approach
Answer:
Beth is part owner of a chain of auto repair shops. Her company was considering
adding tire sales in some of its facilities, and several people were slated to meet to
discuss the idea. Beth gathered information about possible distributors. Her son had
been laid off from a job with one of them, so she removed this company from the group
she was preparing to present to the others. Here, Beth was acting in what role in the
buying center?
A. gatekeeper
B. decider
C. user
D. obstructionist
E. power-broker
Answer:
Same-Store Sales Growth Marketing Dashboard
According to the Same-Store Sales Growth Marketing Dashboard above, which retailer
has the GREATEST same-store sales growth?
A. Target
B. Neiman Marcus
C. Apple
D. Best Buy
E. Tiffany
Answer:
Global companies have five strategies for matching products and their promotion
efforts to global markets. Designing a product to serve the unmet needs of a foreign
nation is which type of global marketing product and promotion strategy?
A. product extension
B. product customization
C. product adaptation
D. product invention
E. product integration
Answer:
The Lanham Act (1946)
A. prevents someone from using a trademark on a noncompeting product.
B. protects the consumer from product defects.
C. provides for registration of a company’s trademarks.
D. allows a company to secure rights to a name before its actual use.
E. facilitates the protection of U.S. trademark rights throughout the world.
Answer:
The three basic functions intermediaries perform are
A. planning, implementing, and evaluating functions.
B. implementation, accommodating, and contractual functions.
C. contractual, facilitating, and logistical functions.
D. transactional, logistical, and facilitating functions.
E. facilitating, accommodating, and implementation functions.
Answer:
The American Red Cross creates advertisements to encourage people to donate blood.
After viewing one, Amanda decided to donate a pint of blood. After she did, Amanda
felt happy that she had performed a good deed. Did an exchange occur in a marketing
sense?
A. Yes, because the blood was donated to the Red Cross based on an advertisement, a
marketing activity.
B. Yes, because the donated blood was exchanged for a feeling of satisfaction.
C. No, because the Red Cross is nonprofit organization.
D. No, because no money changed hands.
E. No, because the Red Cross, a service organization, did not provide Amanda with a
product.
Answer:
Among business products, which of the following would most likely be considered
supplies?
A. photocopier
B. sheet rock
C. ink-jet printer cartridges
D. cleaning service
E. concert hall chairs
Answer:
Which of the following is an example of a multiple products and multiple market
segments strategy?
A. College Football magazine selects different covers for essentially the same magazine
in order to appeal to different geographic markets in the U.S.
B. A new movie used several different movie trailers. One set of previews showed the
action scenes in order to attract one audience and the other set showed romantic scenes
to attract another audience.
C. Arm and Hammer Baking Soda can be used for baking and to remove odors from
refrigerators and litter boxes.
D. Betty Crocker carries one line of cake mixes for people with conventional ovens and
another line of cake mixes for people with microwave ovens.
E. Johnson’s Baby Oil is advertised as a skin softener for babies and as a makeup
remover for women.
Answer:
Consumers often view central business district shopping as less convenient because of
the lack of parking, higher crime rates, and __________.
A. out-dated stores
B. a lack of ambiance
C. fewer quality restaurants
D. few public restrooms
E. exposure to the weather
Answer:
The maximum quantity of products consumers will buy at given price is shown by
A. a demand curve.
B. a price constraint.
C. a break-even point.
D. a supply curve.
E. a marginal revenue curve.
Answer:
Pending federal legislation will require all online retailers to collect state sales taxes
from customers. This would affect online sellers such as Virtual Vineyards, which now
only collects state sales taxes from customers who reside in California – its home state.
This pending legislation would be an example of which environmental force?
A. social
B. economic
C. technological
D. competitive
E. regulatory
Answer:
The marketing mix refers to
A. the selection of product benefits and attributes that are to be added to or subtracted
from a given product to create variations within a product line.
B. the specific ratio within a budget that divides resources between advertising, sales
promotion, and personal selling.
C. the marketing manager’s controllable factors – product, price, promotion, and place –
that can be used to solve a marketing problem.
D. the allocation of resources within a firm towards individual marketing programs.
E. the environmental forces – social, economic, technological, competitive, and
regulatory – that impact the marketing decisions for a particular product at any given
time.
Answer:
The total sales of a product that a firm expects to sell during a specified time period
under specified environmental conditions and its own marketing efforts is referred to as
the
A. prognostication.
B. sales forecast.
C. guesstimate.
D. marketing intuition.
E. market potential.
Answer:
According to Vizio, “The whole goal is to ensure that we have the right product, at the
right time and the right price and __________.”
A. forever rid the world of plugs and wires
B. create customer value that is unmatched in the industry
C. deliver it to the right people
D. at the right place
E. drive a seamless end-to-end value chain
Answer:
Interpreting information so that it is consistent with one’s attitudes and beliefs is
referred to as
A. selective retention.
B. selective comprehension.
C. selective exposure.
D. selective analysis.
E. stimulus discrimination.
Answer:
In-N-Out Restaurant Photo
Outlets such as the In-N-Out Restaurant (see the photo above), typically enter the wheel
of retailing with
A. limited menus and limited service.
B. extensive menus and expansive service.
C. extensive menus and self-service.
D. high prices and novel menu items.
E. high prices and expansive service.
Answer: