________ refers to the sale of two or more goods or services as a single package for one
price.
A. Two-part pricing
B. Captive pricing
C. Price bundling
D. List pricing
E. Promotional pricing
Which type of store carries several product lines across multiple categories?
A. convenience
B. department
C. specialty
D. wholesaler
E. category killer
The American Marketing Association (AMA) has created a code of ethics that includes
all of the following ethical values EXCEPT ________.
A. honesty
B. fairness
C. openness
D. competitiveness
E. responsibility
Examples of ________ that can be used in the prospecting stage of personal selling
include LinkedIn.com, Biznik.com, and WomanOwned.com.
A. CRM systems
B. local business publications
C. industry publications
D. professional online social networks
E. online databases
Some retailers advertise items at very low prices or even below cost just to get
customers into the store. This ________ strategy is prohibited in some states.
A. bait-and-switch
B. price lining
C. predatory pricing
D. loss leader pricing
E. dynamic pricing
Which of the following would NOT be classified as a media type?
A. print
B. broadcast
C. Internet
D. personal selling
E. out-of-home
Relationship marketing is also known as ________.
A. one-to-one marketing
B. niche marketing
C. mass marketing
D. viral advertising
E. word-of-mouth advertising
You are directed to study the actors close to the company, yet outside its internal
environment, that affect its ability to serve its customers. What are you studying?
A. the macroenvironment
B. the microenvironment
C. the political environment
D. the social and cultural environment
E. the global environment
The division of buyers into groups based on lifestyle, class, or personality
characteristics is ________ segmentation.
A. behavioral
B. psychographic
C. values
D. demographic
E. needs
Which of the following is NOT one of the main elements of a typical business plan?
A. product overview
B. market overview
C. business overview
D. promotions overview
E. financial overview
A loyalty program is also commonly known as a(n) ________ program.
A. fair value
B. reward
C. champion
D. lifetime
E. enrichment
A group of farmworkers in Florida organized a movement aimed at convincing Taco
Bell to increase the amount that it pays for its tomatoes so that the wages of tomato
pickers could be increased to a more reasonable minimum. The group of farmworkers
gained attention from media outlets and convinced many people around the country,
particularly college students and religious groups, to stop buying Taco Bell products.
This is an example of a(n) ________.
A. environmental movement
B. ethics code
C. boycott
D. green marketing initiative
E. regulation
Today, the most common classification of the components of a marketing mix is the
________.
A. 4 Cs
B. 4 Ps
C. 7 Ps
D. 7 Cs
E. 12 variables
Which of the following is the best example of a consumer market that is saturated with
brands?
A. the gluten-free baked goods market
B. the hybrid automobile market
C. the luxury RV market
D. the hearing aid market
E. the laundry detergent market
Chewing gum is stocked in many outlets in the same market or community; in fact, it is
placed in as many outlets as possible. This is an example of ________ distribution.
A. exclusive
B. selective
C. multichannel
D. intensive
E. vertical
________ is information collected on a regular basis using standardized procedures and
sold to multiple customers from a related industry.
A. Pure research
B. Syndicated research
C. Primary data
D. Experimental data
E. Sampled data
Viral marketing, online videos, and blogs are most closely associated with which type
of promotional tool?
A. personal selling
B. word-of-mouth marketing
C. transactional marketing
D. broadcasting
E. advertising
________ is the statistical analysis of large databases for the purpose of discovering
hidden pieces of information.
A. Customer differentiation
B. Customer identification
C. Customization
D. Customer relationship management
E. Data mining
Of the five core customer segments in the market for environmentally and socially
responsible products, members of which group are LEAST likely to demonstrate
environmentally responsible behaviors?
A. LOHAS
B. Naturalites
C. Drifters
D. Conventionals
E. Unconcerned
________ combine an economy supermarket and a discount store.
A. Variety stores
B. Category killers
C. Superstores
D. Off-price retailers
E. Convenience stores
________ and ________ do not take title to goods.
A. Full-service wholesalers; limited-service wholesalers
B. Brokers; agents
C. Rack jobbers; truck jobbers
D. General merchandise wholesalers; specialty line wholesalers
E. Drop shippers; cash-and-carry wholesalers
The consumer market is made up of which of the following?
A. individuals who are actual or potential buyers of goods or services for personal
consumption
B. households that are actual or potential buyers of goods or services for personal
consumption
C. businesses that are actual or potential buyers of goods and services for use in the
production of other products or services
D. A and B
E. all of the above
________ for a product or service results from the demand for another product or
service.
A. Cause-and-effect demand
B. Derived demand
C. Fixed demand
D. Fluctuating demand
E. Elastic demand
Diana Dion is currently researching data sources from within her company to make
marketing decisions. Diana is making use of ________ databases.
A. online
B. internal
C. external
D. public
E. search service
Bob and Phyllis Cords own two retail stores, one in Pottstown and one in Norristown.
Though the towns are only 40 miles apart, the consumers at both stores are very
different demographically. Bob and Phyllis alter the product offerings in both locations
in an effort to cater to both demographic groups. Under the 4 Cs classification of the
marketing-mix elements, the Cords have primarily adjusted ________.
A. customer value
B. customers
C. cost
D. convenience
E. communication
Strategic planning is typically completed by a company’s ________, while tactical
planning is typically completed by a company’s ________.
A. marketing function; various business functions
B. marketing function; top management
C. various business functions; top management
D. top management; marketing function
E. top management; various business functions
A shoe company uses ads featuring the members of a country music band with the hope
that the band’s fans will see them wearing the company’s shoes and want to wear the
same shoes. The shoe company is hoping that fans of the band view the band as a
________.
A. social class
B. reference group
C. status symbol
D. subculture
E. lifestyle
Refer to the scenario below to answer the following questions.
John Mayes opened Sparkle Janitorial in 1999. John began by acquiring two contracts
for office cleaning services from two local manufacturing facilities. For two years, John
and his wife, Barb, performed the cleaning services alone. After acquiring three
additional cleaning contracts in 2001, John hired two employees.
“Up to that point, we had room to grow but we really had no advertising plan,” John
stated. “We were relying mostly on word-of-mouth.”
By 2003, Barb hired another two full-time employees to begin Sparkle’s new endeavor:
carpet cleaning in homes and offices.
“Competition was getting tough for both of our services at that point,” Barb added. “We
ran a local radio spot three times each week. Then we had an advertiser print coupons
on placemats. That gave us a little more exposure.” John and Barb Mayes admit that
they never realized the value of a sound promotional plan before now. “We wish we
would have put together something catchy with a jingle way before now,” they said.
Sparkle Janitorial printed coupons that guaranteed $25 off services for first-time
customers; the coupons were distributed on paper placemats at a local restaurant. Which
of the following is most likely the marketing communication objective of this
promotional activity?
A. to build interest
B. to remind about the brand
C. to inform about benefits
D. to reinforce the buying decision
E. to stimulate action
In a culture that values ________, people tend to have less formal relationships and
stress the prominence of individual rights over group rights.
A. collectivism
B. individualism
C. long-term goals
D. short-term goals
E. ethnocentrism
The first step in the personal selling process is ________.
A. preapproach
B. prospecting
C. approach
D. overcome objections
E. sales presentation
A company could increase the perceived benefits of a product by ________.
A. reducing the purchase price
B. adding a desirable new feature to the product without increasing the purchase price
C. reducing the operating costs associated with the product
D. removing the warranty offered with the product
E. adding maintenance costs associated with owning the product
Refer to the scenario below to answer the following questions.
Casey Brickly opened The Landing on the north shore of Witmer Lake in 1962. With a
sandwich counter on one side and a bait shop and grocery on the other, The Landing
was an immediate hit with weekend lake visitors and local residents alike. In the
summer, boaters parked at the piers and bought all their lake needs rods and reels, bait,
fishing licenses, snacks, soft drinks at The Landing. Even during the winter months,
snowmobilers and ice fishermen were lured to The Landing for a snack and hot coffee
or hot chocolate.
As time passed, the business changed and grew tremendously. What was formerly a
weekend tourist area gradually became a year-round residential area. Many of the
houses, which were built as cottages in the 1950s and 1960s, were remodeled into
year-round homes. By the end of the 1970s, the days of small motor boats and 10
mile-per-hour speed limits were gone; skiing and speed boats became all the rage. For
some time, The Landing continued to attract flocks of patrons.
In the 1980s, however, Casey started to realize that the grocery area in The Landing
could not compete with larger local retailers. He eventually enlarged the sandwich
counter, transforming the bait shop and grocery into a restaurant with a full menu
typical of any diner.
“Getting rid of the bait shop was hard to do,” Casey admitted. “I still had a summer
crowd that relied on us for their fishing needs, but we couldn’t survive a whole year on
four months of profit.”
By 2005, the atmosphere of Witmer Lake and the neighboring lakes had become
upscale. “I could see that people were spending more on their speed boats than what
they had originally paid for their cottages!” Casey exclaimed. Many of the cottages
were being inherited by children and grandchildren of the original owners. Once again,
the scene started to change as many of the lake houses were used only as weekend lake
homes. Unlike the previous generation, a vast number of the current owners could
afford to live closer to their jobs while maintaining lake homes. “At this point, business
wasn’t growing,” Casey said.
As local competition continued to increase, Casey converted the diner atmosphere of
The Landing into a bar with a lounge area. “The change might have been too drastic,”
Casey said, “but it was the only way we could maintain a strong, year-round business in
spite of the population shifts and competitive forces.”
Which microenvironment factors have affected The Landing the most?
A. competitors
B. suppliers
C. government agencies
D. natural environment
E. economic environment
Advertisers are increasingly shifting larger portions of their budgets to media that cost
less and have more specific target audiences. Which of the following will be harmed the
MOST by such a shift?
A. radio
B. newspapers
C. network television
D. search marketing
E. mobile advertising
________ are self-service retailers that carry food and nonfood items arranged in
departments.
A. Supermarkets
B. Convenience stores
C. Specialty stores
D. Variety stores
E. Department stores