For an exchange to occur, at least one of the parties must be willing to give up his or her
‘something of value.”
a. True
b. False
A measure of the sensitivity of demand in relation to changes in price is:
a. a demand curve.
b. a prestige graph.
c. marginal analysis.
d. price elasticity of demand.
e. quantity elasticity.
A difference between manufacturers’ agents and selling agents is that:
a. selling agents have little control over the marketing mix of the manufacturers they
represent.
b. selling agents represent retailers.
c. selling agents do not offer retailers aid in advertising or promotional material.
d. selling agents do not have the territorial restrictions that manufacturers’ agents do.
e. selling agents represent wholesalers.
What is the primary determinant in deciding how materials will be handled?
a. Unit loading
b. Containerization
c. Customer preference
d. Cost reduction
e. Product characteristics
By the turn of the twentieth century, the population of the United States had shifted to
three large racial and ethnic groups. These groups are:
a. Whites, Blacks, and Hispanics.
b. Asians, African-Americans, and Caucasians.
c. Asians, African-Americans, and Hispanics.
d. African-Americans, Native American Indians, and Caucasians.
e. Hispanics, Native-American Indians, and Caucasians.
Prestige products tend to sell better at a high price than at a low price.
a. True
b. False
What is a primary difference between an industrial distributor and a manufacturers’
agent?
a. A manufacturers’ agent does not acquire title nor usually takes possession of the
products whereas an industrial distributor does.
b. A manufacturers’ agent is employed by the manufacturers while an industrial
distributor is independent.
c. An industrial distributor is employed by the manufacturers while a manufacturers’
agent is independent.
d. A manufacturers’ agent rarely adds any value to the marketing channel while an
industrial distributor reduces costs significantly.
e. An industrial distributor does not form relationships with customers for repeat
business whereas a key asset of a manufacturers’ agent is his knowledge of his
customers.
Dell Inc. segments its business markets into small business, corporate, government
agencies, K-12 schools, and higher education institutions. The primary segmentation
variable used in this example is:
a. geographic location.
b. type of organization.
c. secondary product use.
d. customer size.
e. market potential.
One overlooked internal source of secondary marketing information discussed in the
text is .
a. sales receipts
b. accounting records
c. interviews with salespeople
d. quality control data
e. consumer surveys
A penetration pricing strategy is particularly appropriate when demand is:
a. increasing.
b. highly elastic.
c. highly inelastic.
d. decreasing.
e. inefficient.
Which of the following is a probability sampling technique used to reduce errors within
random sampling?
a. Quota
b. Stratified
c. Nonprobability
d. Cluster
e. Snowball
In recall post-testing, respondents are shown the actual advertisement and are asked
whether they recognize it.
a. True
b. False
If Tasmania levied a duty on all goods purchased from the United States and other
countries outside its borders that were brought into Tasmania, its businesses and
citizens would be paying a(n)______ .
a. embargo
b. import tariff
c. travelers’ tax
d. export tax
e. excise tax
Total buying power declines during periods of economic:
a. recovery.
b. prosperity.
c. recession.
d. uncertainty.
e. expansion.
Jeff needs to buy his textbooks for the coming semester of college. It is only two weeks
before the first day of class, and he still has not made a purchase. Jeff wants to buy
them somewhere other than the bookstore since he is still living at his parents’ home
and won’t be on campus until the day before class. Jeff goes online and looks for sites
that sell the textbook. Then he remembers that one of his friends had said something
earlier about finding the book for a great price. Jeff then calls his friend to get the name
of the site. In terms of Jeff’s buying decision process, his calling a friend was .
a. problem recognition
b. internal informational search
c. external information search
d. cognitive dissonance
e. evaluation of alternatives
While promotion does not create needs, it does capitalize on them.
a. True
b. False
What is meant by the term’ marketing concept’?
Services are vulnerable to heterogeneity. Explain this issue, and discuss different ways
in which heterogeneity can occur in service delivery.
What are the three types of nonstore retailing? Give examples of each.
How do marketers promote services?
What are marketing intermediaries, and what are the activities that they perform?
Identify and describe the major types of discounts used for business markets. Then
explain the reasons for using each type.
Why is marketing important to businesses and to the economy?