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Which of the following best illustrates the concept of derived demand?
A. The number of retail stores in a downtown area decreases even though demand for
retail goods increases.
B. An increase in the number of new, single-family homes results from a spike in the
gross national product.
C. A Chinese plastics company increases its output because of its customers' higher toy
exports to the United States.
D. A heat wave results in an increased demand for air conditioners.
E. Honda reducing its car prices causes GM to do the same.
Answer:
Figure 4-5
According to Figure 4-5 above, C defines what level in the Maslow hierarchy of needs?
A. physiological
B. safety
C. social
D. personal
E. self-actualization
Answer:
Since global marketing is affected by economic considerations, a scan of the global
marketplace should include which of the following factors?
A. an analysis of cultural diversity within the country under consideration
B. regulatory constraints regarding contracts, mergers, and partnerships
C. measurement of consumer income in different countries
D. an assessment of language differences including dialect variation
E. political and ideological differences between the countries involved
Answer:
Triple-bottom line refers to
A. the recognition of the need for organizations to improve the state of people, the
planet, and profit simultaneously if they are to achieve sustainable, long-term growth.
B. the obligations an organization has to those who can affect achievement of its sales,
profit, and market share objectives simultaneously.
C. the recognition of the need for organizations to be responsible simultaneously to
shareholders, employees, and customers.
D. the obligations an organization has to practice profit, stakeholder, and societal
responsibility simultaneously.
E. three different financial statements prepared in three different formats: one for
governmental regulators, one for shareholders, and one for internal use.
Answer:
Which type of consumer product is purchased infrequently and takes an extensive
amount of time to make the purchase decision?
A. convenience product
B. shopping product
C. specialty product
D. unsought product
E. discretionary product
Answer:
The most expensive stage in the new-product process for most products and services is
A. commercialization.
B. screening and evaluation.
C. business analysis.
D. development.
E. market testing.
Answer:
According to the price equation, final price equals list price minus __________ plus
extra fees.
A. profits
B. commissions
C. trade-ins
D. taxes
E. incentives and allowances
Answer:
During the planning phase of an IMC program, a firm will identify the target audience,
specify the promotion objectives, set the budget, select the right promotional tools,
__________, and schedule the promotion.
A. pretest the promotion
B. design the promotion
C. state the mission
D. identify possible advertising or promotional firms
E. carry out the promotion
Answer:
Every product manufactured by the maker of Slim-Fast carries the Slim-Fast brand
name. This company uses __________.
A. multibranding
B. uniform branding
C. co-branding
D. corporate branding
E. agent licensing
Answer:
A(n) __________ firm engages in trade and marketing in different countries as an
extension of the marketing strategy in its home country.
A. multidomestic
B. meganational
C. international
D. multinational
E. transnational
Answer:
Cognitive dissonance refers to
A. feelings of guilt for purchasing a product or service that was not consistent with a
consumer's moral or ethical beliefs.
B. feelings of discomfort associated with purchasing something purely for the sake of
prestige.
C. the feeling of postpurchase psychological tension or anxiety consumers may
experience when faced with two or more highly attractive alternatives.
D. feelings of discontent after a purchase has been made when the product fails to
perform up to expectations.
E. feelings of discontent before a purchase has been made when the customer finds out
that he or she paid more for the product than necessary.
Answer:
As the director of marketing for Littleton Hospital, you must conduct an environmental
scan to help create a five-year marketing plan for the hospital. Which of the following
environmental trends should you consider to be the most important?
A. The number of people in the geographic area who are 65 years or older will increase
by 23 percent during the next five years.
B. By the year 2015, baby boomers will control more than 50 percent of all consumer
expenditures in the U.S.
C. The Littleton community has seen a rise in dual-income households.
D. By the year 2025, robotics will play a major role in surgical procedures.
E. Twenty percent of the local population is of Hispanic origin.
Answer:
Accelerated development in the retail life cycle is similar to which stage in the product
life cycle?
A. introduction
B. maturity
C. decline
D. growth
E. harvest
Answer:
Pretzels were first introduced as a salty snack. Later, the product was repositioned as a
low-fat snack in order to __________.
A. respond to a competitor's head-to-head positioning strategy
B. reach a new market
C. catch a rising trend
D. change the value offered
E. change its target audience
Answer:
When Amazon introduced the Kindle Fire tablet device at $199 while Apple was selling
the lowest price iPad for $499, Amazon was using a __________ pricing strategy.
A. skimming
B. target
C. bundle
D. penetration
E. loss-leader
Answer:
The Hermitage, a famous Russian art museum, was suffering financial difficulties as the
result of lost funding and a decline in tourists. The decrease in visitors was blamed on a
lack of awareness of the treasures contained in the museum. The Hermitage's director
used a strategic alliance with IBM to create a website where people view some of the
wonders of the Hermitage in an online virtual tour. The hope is that this sampling of
paintings, sculptures, artifacts, etc. will encourage visitors to make a trip to the
Hermitage and spend enough money there to cover operational costs. The Hermitage is
a(n) __________ that uses online virtual tours to market itself worldwide.
A. good
B. idea
C. service
D. assembly
E. charity
Answer:
Which of the following statements describes a major drawback associated with a
canned sales presentation?
A. A canned sales presentation provides too little information to prospects.
B. A canned sales presentation is difficult for inexperienced salespeople to use.
C. A canned sales presentation allows little room for feedback from prospective
customers.
D. A canned sales presentation is too expensive and time consuming.
E. A canned sales presentation lacks consistency.
Answer:
The aptitudes, knowledge, skills, and a variety of behavioral characteristics considered
necessary to perform a job successfully are contained in a __________.
A. statement of job credentials
B. statement of job training
C. statement of job education
D. statement of job experience
E. statement of job qualifications
Answer:
Relationship selling refers to
A. the assignment of a single salesperson to a single customer throughout the entire
sales process.
B. when suppliers and sellers combine their expertise and resources to create
customized solutions; commit to joint planning; and share customer, competitive, and
company information for their mutual benefit, and ultimately the customer.
C. the practice of building ties to customers based on a salesperson's attention and
commitment to customer needs over time.
D. the practice of using an entire team of professionals in selling to and servicing key
customers.
E. the practice of maintaining contact with a customer on a regularly scheduled basis
following the initial sale of a product or service.
Answer:
What type of discount would Toro most likely offer its channel members to carry and
sell its riding lawn mowers during the winter months?
A. noncumulative discounts
B. cumulative discounts
C. functional discounts
D. seasonal discounts
E. trade discounts
Answer:
GoDaddy Super Bowl Ad
__________ ads are effective; GoDaddy reported that the day following the airing of
the ad above was the biggest sales day in company history.
A. reinforcement
B. online
C. Super Bowl
D. competitive
E. cooperative
Answer:
A straight rebuy is a(n) __________ while a modified rebuy is a(n) __________.
A. exchange; resale
B. routine reorder; exchange
C. first-time order; routine reorder
D. changed order; first-time order
E. routine reorder; changed order
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. bot
D. collaborative filtering
E. choiceboards
Answer:
Mystery shoppers are people
A. hired by a firm to get legal, though not necessarily ethical, information about
competitive firms.
B. hired by a firm's employees to prove to the courts that competitors are using unfair
pricing practices.
C. hired by a customer to report on illegal or unethical practices that are regularly
taking place at a particular establishment.
D. who pose as customers to check on a firm's products or services and are paid to write
a detailed report on their experiences.
E. hired by law firms to check on the safety of their clients' products.
Answer:
Which of the following is NOT an example of a marketer-dominated source of
information consulted during an external search?
A. advertising
B. point-of-purchase displays
C. Consumer Reports magazine
D. company salespeople
E. company websites
Answer:
Which of the following statements about comparative advertising is true?
A. Comparative advertisements now constitute over 90% of all television ads.
B. Comparative advertisements attract less consumer attention for the advertiser's
brand.
C. Comparative advertisements need market research to provide legal support for their
claims.
D. Comparative advertisements have been banned by the Federal Trade Commission.
E. Comparative advertisements can, and often do, cause more harm than good.
Answer:
Rather than compete with large greeting card companies for shelf space in
supermarkets, several smaller card companies place their cards in pack-and-ship stores
where the customer can mail a card on the spur of the moment, and also sell them
online. This would be an example of which type of marketing channel strategy?
A. a strategic channel alliance
B. multichannel distribution
C. parallel distribution
D. dual distribution
E. direct distribution
Answer:
If a brand manager for Honda creates an offbeat and funny video featuring its latest
model, the best social networking site to publish the video for marketing purposes
would be __________.
A. Pinterest
B. LinkedIn
C. Twitter
D. YouTube
E. the Honda website
Answer:
All of the following are legal or ethical considerations when setting a final price
EXCEPT:
A. price discrimination.
B. predatory pricing.
C. showrooming.
D. price fixing.
E. deceptive pricing.
Answer:
Making recommendations, implementing those recommendations, and evaluating the
results would take place during which step of the five-step marketing research
approach?
A. collect relevant information
B. develop the research plan
C. develop findings
D. take marketing actions
E. define the problem
Answer:
A marketing plan refers to
A. the long-term decisions made to implement the marketing program and the
monitoring of those decisions.
B. a technique that marketing managers use to quantify performance measures and
growth targets to analyze their firm's strategic business units (SBUs) as though they
were a collection of separate investments.
C. a road map for the marketing activities of an organization for a specified future time
period, such as one year or five years.
D. the detailed day-to-day operational decisions essential to the overall success of
marketing strategies.
E. a road map for the entire organization for a specified future period of time, such as
one year or five years.
Answer:
A disadvantage of a customer sales organization is
A. the need to assign just one salesperson to local, regional, national, and global
territories.
B. an increased need for multilingual salespeople.
C. the smaller number of qualified sales managers.
D. the need for close teamwork amongst a diverse salesforce.
E. higher administrative costs and some duplication of selling effort.
Answer:
Kellogg's changed the name of its Heartwise cereal to Fiberwise most likely to
__________.
A. respond to a changing public interest from heart to intestinal health issues
B. convey a stronger product image, since "heart" implied sentimentality and "fiber"
implied strength
C. comply with Food and Drug Administration guidelines on the use of the word
"heart" in food brand names
D. avoid a lawsuit by the makers of HeartPro Organic Cereal because they claimed the
names and benefits were too similar
E. complement its new line of breakfast fiber bars
Answer:
The generation of children born between 1946 and 1964 is referred to as
A. baby busters.
B. millennials.
C. Generation Y.
D. baby boomers.
E. Generation X.
Answer:
Amazon uses supply chain and logistics management to
A. make sure that it maintains the authority that comes with being the channel captain.
B. avoid having to use quick response replenishment.
C. lessen the amount of communication that is necessary between it and its suppliers.
D. manage the flow of products from its suppliers to its distribution centers.
E. implement its market divestment strategies.
Answer:
