Furniture is an example of a shopping product.
Independent off-price retailers purchase merchandise at rates that are substantially
higher than regular wholesale rates.
Sales promotion is the best promotion tool to build personal and long-lasting
relationships with customers.
An increase in private goods, such as cars, typically leads to an increased need for
public services, such as parking spaces.
Sales promotions typically create short-term sales but are viewed as ineffective at
building long-term customer relationships.
A branded community Web site aims to build customer goodwill rather than sell
products to customers.
Public relations is the form of product advertising that is most widely utilized by U.S.
firms.
Manufacturers’ agents are the most common type of agent wholesaler.
In a SWOT analysis, which of the following would be considered a weakness of a
company?
A) an unfavorable economic climate that discourages consumption
B) the exit of a competitor from the market
C) inflation that leads to higher prices of the company’s products
D) falling consumer interest in its products
E) obsolete technologies used by the company
Senz, an automobile manufacturer, produces low-end vehicles that are targeted toward
lower-income consumer groups. Senz most likely segments the consumer market based
on ________ variables.
A) demographic
B) psychographic
C) universal
D) geographic
E) behavioral
The two major citizen action movements to keep businesses in line are ________.
A) environmentalism and consumerism
B) protectionism and materialism
C) consumerism and protectionism
D) liberalism and monetarism
E) innovation and predatory pricing
Simpson Ltd., located in San Diego, provides a range of household and healthcare
goods to consumers within the region. The firm also runs a number of local hotels and
resorts under its brand name. Simpson employs different sales forces for each major
division, so there are sales teams for household goods, healthcare goods, hotel
management, and resort management. Simpson has most likely adopted a(n) ________
sales-force structure.
A) market
B) product
C) customer
D) territorial
E) complex
Which of the following is true of business markets?
A) The business marketer normally deals with far more but far smaller buyers than the
consumer marketer does.
B) Business markets generally involve far less money and items than do consumer
markets.
C) Business demand is derived demand as it ultimately derives from the demand for
consumer goods.
D) A small percentage decrease in consumer demand can cause a large increase in
business demand.
E) The total demand for business products is much affected by price changes in the
short run.
ToyBox is a toy manufacturer based in the United Kingdom. Which of the following
indicates that the company is following a market penetration strategy?
A) It introduces a line of children’s clothing in the United Kingdom.
B) It acquires toy rights for a popular cartoon character to boost its sales.
C) It introduces its toys in the Indian and South-East Asian markets.
D) It enters the U.S. market with a line of children’s clothing.
E) It develops a new line of educational software targeted at the current market.
When an end user’s problems and experiences define a new product, the approach is
called ________.
A) customer-centered new product development
B) team-based new product development
C) sequential product development
D) supply/demand new product development
E) systematic new product development
A(n) ________ marketing system is a marketing system in which independent firms at
different levels of production and distribution join together through binding agreements.
A) corporate vertical
B) horizontal
C) contractual vertical
D) administered vertical
E) direct
Introducing a new product into the market is called ________.
A) test marketing
B) segmentation
C) product development
D) commercialization
E) market penetration
Which of the following is an example of cause-related marketing?
A) a firm selling groceries without using retail outlets
B) a firm selling energy drinks and relying on social media
C) a firm selling low-cost health insurance through online sites
D) a firm selling hybrid and other low-emission automobiles
E) a firm selling electronics and giving a percentage of sales to charity
A ________ is defined as a name, term, sign, symbol, or design, or a combination of
these, that identifies the maker or seller of a product or service.
A) prototype
B) paradigm
C) framework
D) patent
E) brand
Consistency of a product mix refers to the ________.
A) number of versions offered for each product in the line
B) ways in which the various product lines are related
C) number of different product lines the company carries
D) total number of items a company carries within its product lines
E) total market share captured by the entire product line
In which step of the selling process does a salesperson learn as much as possible about
a prospective customer before making a sales call?
A) approach
B) follow-up
C) demonstration
D) handling objections
E) preapproach
Which of the following is a traditional right of buyers?
A) the right to charge any price for a product, provided no discrimination exists among
similar kinds of buyers
B) the right to spend any amount to promote a product, provided it is not defined as
unfair competition
C) the right to use any product message, provided it is not misleading or dishonest in
content or execution
D) the right to use buying incentive programs, provided they are not unfair or
misleading
E) the right not to buy a product that is offered for sale
When a company interacts one-on-one with large numbers of customers to create
customer-unique value by designing products and services tailor-made to individual
needs, it is engaging in ________.
A) concentrated marketing
B) mass marketing
C) mass customization
D) differentiated marketing
E) local marketing
The Great Recession has most likely resulted in a(n)________.
A) demand for private goods
B) increase in cultural pollution
C) decline in conspicuous spending
D) increase in modern materialism
E) desire for extravagant products
Which of the following is the right order of the steps that companies generally follow in
designing a customer-driven marketing strategy?
A) market segmentation, differentiation, positioning, and market targeting
B) positioning, market segmentation, mass marketing, and market targeting
C) market segmentation, market targeting, differentiation, and positioning
D) market alignment, market segmentation, differentiation, and market positioning
E) market recognition, market preference, market targeting, and market insistence
Pastaliano is a restaurant based in Illinois that exclusively sells Italian food. Pastaliano
sells the rights to its recipes to a British firm, Clover Trading, which then opens an
outlet in London under the Pastaliano brand name. Which kind of channel arrangement
does Pastaliano most likely have with Clover Trading?
A) a horizontal marketing system
B) a direct marketing system
C) an administered vertical marketing system
D) a contractual vertical marketing system
E) a corporate vertical marketing system
Which of the following sources constitutes the internal database of a company?
A) commercial online databases
B) conversations on social media
C) the company’s sales records
D) reports sold by market research firms
E) the Web
Describe a few ways in which a marketer can engage in socially responsible target
marketing.
Using suitable examples, briefly compare and contrast the concepts of needs, wants,
and demands. Discuss how these concepts relate to marketing practices.
Explain how wholesalers add value for a producer.
List and explain some of the reasons why new products fail.
What are the responsibilities of channel members?
What is a demand curve? Why is it useful to marketers?
What are the potential disadvantages of e-procurement?
What is customer value-based pricing? Describe the two types of value-based pricing.
Differentiate between power centers and lifestyle centers.
Explain the four major segmentation variables for consumer markets.