In the automobile industry, many companies use a __________, whereby a
manufacturer licenses dealers to sell its cars subject to various sales and service
conditions.
a. service-sponsored producer franchise system
b. service-sponsored retail franchise system
c. manufacturer-sponsored wholesale franchise system
d. manufacturer-sponsored retail franchise system
e. administered vertical marketing system
Answer:
Combining a corporate or family brand with a new brand to distinguish a part of its
product line from others is referred to as __________.
a. subbranding
b. multibranding
c. mixed branding
d. private branding
e. family branding
Answer:
In 2007, Kodak introduced a line of digital picture frames that allowed consumers to
upload, store, and view digital images. In 2009, Kodak expanded its line with more than
11 items ranging in price from $60 to $180. By 2013, sales could approach 50 million
units for market leader Kodak. According to the BCG growth-share matrix, this SBU is
a __________.
a. dog
b. star
c. cash cow
d. question mark
e. hedgehog
Answer:
Thirsty Dog! is a zesty beef-flavored, vitamin-enriched, mineral-loaded, lightly
carbonated bottled water for your dog. It might have been a great product, but
competition over shelf space was fierce and the product could not generate enough sales
per square foot for retailers. The makers of this product had
a. poor product quality.
b. no economical access to buyers.
c. an insignificant point of difference.
d. incomplete market and product protocol.
e. poor execution of the marketing mix.
Answer:
By requiring its toy suppliers to trim one square-inch of packaging from its lines,
Walmart reduced packaging by __________ tons.
a. 3,000
b. 3,500
c. 4,000
d. 4,500
e. 5,000
Answer:
When banks are closed, they can offer value to their customers through automatic teller
machines (ATMs). This self-service technology also comes with a down side since the
ATMs are perceived as being less __________.
a. convenient
b. reliable
c. personal
d. safe
e. accurate
Answer:
By 2030, __________ will constitute the largest racial or ethnic population in the U.S.
a. African Americans
b. Asian Americans
c. Caucasians
d. American Indian and other native populations
e. Hispanics
Answer:
An industrial firm
a. is one that is independently owned and takes title to the merchandise it sells.
b. buys physical products and resells them again without any reprocessing.
c. deals exclusively with federal, state, and local governments.
d. in some way reprocesses a good or service it buys before selling it again to the next
buyer.
e. only produces a product, not a service.
Answer:
What is the number one paid iPhone app?
a. Instagram
b. Farmville
c. Angry Birds
d. Twitter
e. Plants vs. Zombies
Answer:
The practice of offering small, collateral-free loans to individuals who otherwise would
not have access to the capital necessary to begin small businesses or other
income-generating activities, is referred to as
a. macrofinance.
b. microfinance.
c. microcapitalization.
d. macrocapitalization.
e. megafinance.
Answer:
Figure 1.
According to Figure 1. above, “F” represents which step in the price-setting process?
a. set list or quoted price
b. select an approximate price level
c. scan competitors for prices of similar products or services
d. make special adjustments to list or quoted price
e. identify pricing objectives and constraints
Answer:
If taxes rise at a faster rate than incomes, consumers will
a. have less disposable income and try to economize.
b. feel more confident in the government and therefore spend more money.
c. be able to afford to take a vacation.
d. recognize that it’s the perfect opportunity to buy a car.
e. react by voting for all incumbent members of Congress.
Answer:
Online retail purchases by consumers can be the result of several very different
approaches, which include: (1) paying dues to become a member of an online discount
service; (2) participating in an online auction; (3) going directly to online malls; and (4)
a. becoming a secret shopper.
b. participating in a buying cooperative.
c. becoming a PURL.
d. using a shopping “bot” to search for a product at the best price.
e. becoming a member of a research group that evaluates new products.
Answer:
A channel member (producer, wholesaler, or retailer) who coordinates, directs, and
supports other channel members is referred to as a __________.
a. channel champion
b. channel general
c. channel captain
d. channel director
e. channel coordinator
Answer:
James Gilmore and Joseph Pine explain, “The more contrived the world seems, the
more we all demand what is real.” In terms of marketing, this simply means
a. consumers cannot really tell the difference between illusion and reality.
b. reality aside, give customers what they think they want.
c. good marketing can make even the impossiblepossible.
d. what we want and what we can have are two totally different things.
e. consumers want engaging, personal, memorable, and authentic offerings.
Answer:
Vertical conflict refers to conflict that occurs between
a. two members in the same level of a marketing channel.
b. two different levels in a marketing channel.
c. members of upper management who make the marketing channel decisions and lower
management who must implement these decisions.
d. a firm’s and its customers’ goals.
e. two producers of the same product vying for the same distribution channel members.
Answer:
The standards for registration and certification of a manufacturer’s quality management
and assurance system based on an on-site audit of practices and procedures developed
by the International Standards Organization are referred to as
a. ISO 14000.
b. ICC 9000.
c. ISO 9000.
d. UN Order 900.
e. NAICS Rule 2012.
Answer:
A full warranty __________.
a. provides a written statement of manufacturer liability
b. states the bounds of coverage, and more importantly, areas of noncoverage
c. has no limits of noncoverage
d. assigns responsibility for product deficiencies to the manufacturer
e. assigns responsibility for product deficiencies on misuse by the consumer
Answer:
Flighting schedules would most likely be used for advertising __________.
a. snowboards
b. automobiles
c. bottled water
d. toothpaste
e. bathroom cleaners
Answer:
Which of the following statements regarding corporate vertical marketing systems is
most accurate?
a. Corporate vertical marketing systems combine successive stages of production and
distribution under shared ownership with all links in the marketing chain sharing title to
the goods.
b. Corporate vertical marketing systems can incorporate both forward and backward
integration.
c. Corporate vertical marketing systems increase distribution costs.
d. Corporate vertical marketing systems increase investment increases but decrease
fixed costs.
e. Corporate vertical marketing systems are only effective with low-end consumer
products.
Answer:
Carrying out the promotion program can be expensive and time consuming. One
researcher estimates that “an organization with sales between $200 million and $500
million will need __________ years” to successfully implement an IMC program.
a. two
b. three
c. four
d. five
e. ten
Answer:
Those characteristics of a product that make it superior to competitive substitutes are
referred to as __________.
a. core benefit propositions
b. marketing mix elements
c. marketing attributes
d. points of difference
e. product protocols
Answer:
Which of the following firms has made the wisest wholesaler choice for its product?
a. Hannah’s Hardware uses a rack jobber for its hammers.
b. Fiona’s Floral uses a truck jobber for its cut roses.
c. Sam’s Coal Country uses a truck jobber for its subway cars.
d. Shayna’s Superior Supplies uses a desk jobber for its staplers.
e. Josh’s Jackhammers uses a rack jobber for its hard hats.
Answer:
The four largest importers of U.S. goods and services are
a. Japan, Germany, China, and Canada.
b. Canada, China, Japan, and Mexico.
c. China, Brazil, Japan, and Germany.
d. Mexico, Canada, Europe, and China.
e. England, Canada, Australia, and New Zealand.
Answer:
The California Pistachio Growers Association has an ongoing ad campaign in which it
encourages people to think of pistachios when they think of good times and good
friends. The ads ask readers to log onto www.pistachios.org to register to win 100
pounds of pistachios for a year plus a trip to California. The association is using a
__________ to measure the effectiveness of its ads.
a. lottery
b. contest
c. premium
d. sweepstakes
e. deal
Answer:
Managers often use two special indexes to help identify strong and weak market
segments in order to provide direction for marketing efforts. The two indexes are (1)
category development index (CDI) and a (2) __________ (BDI).
a. business development index
b. brand development index
c. business-portfolio development index
d. buyers development index
e. benchmark development index
Answer:
The billboards that Sony uses to advertise its PlayStation 3 video game console are
__________.
a. channels of communication
b. messages
c. noise
d. feedback loops
e. sources
Answer:
Nike is a recognized innovator in the use of __________ for creating interactivity,
individuality, and customer relationships. Its NikeiD product configurator invites
customers to create one-of-a-kind shoes, messenger bags, and backpacks by simply
answering a few questions and viewing the finished product from numerous angles.
a. wikis
b. cookies
c. RSS feeds
d. collaborative filtering
e. choiceboards
Answer:
The anxiety felt because the consumer cannot anticipate the outcomes of a purchase but
believes there may be negative consequences is referred to as
a. a negative antecedent state.
b. perceived risk.
c. temporal uncertainty.
d. spatial uncertainty.
e. buyer’s remorse.
Answer:
Setting a market price for a product or product class based on a subjective feel for the
competitors’ price or market price as the benchmark is referred to as
a. customary pricing.
b. above-, at-, or below-market pricing.
c. standard markup pricing.
d. competitive margin pricing.
e. experience curve pricing.
Answer:
The density of distribution whereby a firm tries to place its products or services in as
many outlets as possible is referred to as __________.
a. intensive distribution
b. extensive distribution
c. selective distribution
d. exclusive distribution
e. concentrated distribution
Answer:
Personally or socially preferable modes of conduct or states of existence that tend to
persist over time are referred to as __________.
a. customs
b. ethics
c. values
d. culture
e. beliefs
Answer:
The sales process at Xerox typically follows the six stages of the personal selling
process. During the fourth stage, as the presentation begins, the salesperson
__________.
a. explains why competitor’s products are inferior
b. summarizes relevant information about potential solutions
c. requests a meeting with the company gatekeeper
d. requests a meeting with the official buyer to determine the possibility of a sale
e. gets a signed document or confirmation of the sale
Answer:
The North American Industry Classification System (NAICS) system designates
industries with a numerical code in a defined structure. A six-digit coding system is
used. The first two digits designate a(n)
a. subsector of the economy.
b. industry group.
c. specific industry.
d. individual country-level national industry.
e. sector of the economy.
Answer:
A restaurant review published in the local newspaper is an example of __________.
a. publicity
b. sales promotion
c. advertising
d. direct marketing
e. personal selling
Answer: