Most stores today are near several others in one of four settings that include all of the
following EXCEPT:
A. the regional shopping center.
B. the strip mall.
C. the old-town district.
D. the central business district.
E. the power center.
Answer:
With __________, problem solutions are not simply a matter of choosing from an array
of existing products or services. Rather, novel solutions often arise, thereby creating
unique value for the customer.
A. adaptive selling
B. formula selling
C. consultative selling
D. suggestive selling
E. relationship selling
Answer:
St. Jude Medical makes cardiovascular medical devices, including the world’s most
widely used mechanical heart valve. Its products include tissue heart valves,
pacemakers, and implantable cardiovascular defibrillators. St. Jude’s innovation in
cardiac devices helps it outperform rivals, and thus provides it with a
A. competitive advantage.
B. set of core values.
C. core benefit proposition.
D. marketing edge.
E. viable mission.
Answer:
More than half of all U.S. households are composed of only one or two persons, so
Aunt Jemima offers one serving meals – such as its Ham & Egg Scramble and Oatmeal
Pancakes. Aunt Jemima is using __________ as the basis to segment its market.
A. usage rates
B. usage patterns
C. demographic characteristics
D. behavior characteristics
E. psychographic characteristics
Answer:
The solicitation of a consumer’s consent to receive e-mail and advertising based on
personal data supplied by the consumer is called __________.
A. opt-in
B. opt-out
C. cookies
D. spam
E. buzz
Answer:
Companies often pursue a market share objective when __________.
A. industry sales are flat or declining
B. profits are increasing
C. industry sales are beginning to rise
D. there is a sudden increase in production costs
E. stockholders are seeking higher dividends
Answer:
Using __________, many retailers deliberately sell products below their normal prices
(and sometimes below cost) to attract attention and additional store traffic.
A. customary pricing
B. below-market pricing
C. prestige pricing
D. penetration pricing
E. loss-leader pricing
Answer:
General merchandise stores such as Walmart, Kmart, and Target are usually considered
__________ retailers.
A. exclusive-service
B. minimal-service
C. self-service
D. full-service
E. limited-service
Answer:
Starch Test Image
The Starch test shown above is an example of a(n)
A. sales test.
B. unaided recall test.
C. aided recall test.
D. inquiry test.
E. concept test.
Answer:
CPW (Cereals Partners Worldwide) is a __________ designed from the start to be a
global business. It joined the cereal manufacturing and marketing capability of General
Mills with the distribution clout of Nestle.
A. dual distribution partnership
B. multichannel distribution system
C. cooperative distribution channel
D. strategic channel alliance
E. bilateral trade cooperative
Answer:
Personal selling serves three major roles in a firm’s overall marketing effort.
Salespeople: (1) are the critical link between a firm and its customers; (2) __________;
and (3) may play a dominant role in a firm’s marketing program.
A. play a key role in research and development
B. are the company in a consumer’s eyes
C. play a dominant role in implementing an organization’s pull strategy
D. provide the most valuable resource for segmenting and selecting target markets
E. are one of many people in a firm that contacts potential customers
Answer:
Which of the following demographic trends has significant implications to global
marketers?
A. the declining populations in Latin American countries
B. the size of the markets in India and China
C. the tripling of the population of consumers under 40 years old
D. the decreasing interest in entrepreneurship in developing countries
E. the lack of savings of elderly populations in developed countries
Answer:
Step 1 in the planning phase of the strategic marketing process involves __________.
A. establishing the budget
B. developing the marketing program
C. setting goals
D. auditing the marketing plan
E. conducting a situation (SWOT) analysis
Answer:
MachineTools.com sells grinders, boring mills, and engine lathes. Its website lists
products from over 700 machinery manufacturers, 2,500 distributors of new equipment,
and 650 dealers of used inventory for sale. MachineTools.com relies on a
well-established channel of manufacturers, distributors, and machinery dealers to
provide the merchandise that is sold through this
A. electronic government channel.
B. virtual marketing channel.
C. World Wide Web networks.
D. mediated channel.
E. Internet marketing channel.
Answer:
All of the following constitute the “4 Ps” of the marketing mix EXCEPT:
A. promotion.
B. profitability.
C. price.
D. place.
E. product.
Answer:
Jennifer usually worked long hours at her job at the hospital, so her husband Ari, an
amateur chef, prepared most of the meals for the family. As an anniversary gift, Jennifer
bought Ari a top-of-the-line professional cook top and range. Ari’s primary role in this
process was that of __________.
A. information gatherer
B. influencer
C. purchaser
D. decision maker
E. user
Answer:
Relatives and friends whom the consumer trusts are known as __________ sources of
external information.
A. relational
B. marketer-dominated
C. personal
D. stakeholder
E. public
Answer:
A firm’s profit potential and control over marketing activities increases as it moves from
exporting to direct investment as a global market-entry strategy. But so does the firm’s
A. likelihood of long-term success.
B. financial commitment and risk.
C. vulnerability to political changes and doctrines.
D. need for a more educated workforce.
E. need for a larger workforce.
Answer:
At which step of the planning stage of the strategic marketing process does a firm
develop its marketing mix?
A. situation analysis
B. goal setting
C. marketing program
D. implementation
E. market segmentation
Answer:
Audiences are allowed to preview actual movies (a sneak preview) such as The Hunger
Games and Star Trek so that changes might be made before they are released to the
general public during which stage of the new-product process?
A. market testing
B. business analysis
C. commercialization
D. screening and evaluation
E. concept testing
Answer:
Total revenue refers to
A. the profit made from selling a product or service.
B. the net gain in sales revenue if the unit price is lowered.
C. the least number of units sold needed to cover product, distribution, and promotional
costs.
D. the amount at which marginal costs exceed fixed costs.
E. the total money received from the sale of a product.
Answer:
Figure 7-6D: Average Annual Sales per Household of Tony’s Pizza, by Age of
Children in Household
Figure 7-6D above shows average annual unit sales per household, by age of children in
household for Tony’s Pizza. Analyze this chart. What findings would you present to a
supervisor?
Answer:
The term marketing strategy is used to address both the __________ and the
__________.
A. product groupings; target markets
B. target market; marketing program
C. subjective; objective
D. revenues generated; market share achieved
E. feasibility; time required to implement
Answer:
Levi’s Japan has a website that caters to those looking to tailor their own denim,
allowing customers to choose from different cuts (502 regular wide, 505 regular wide,
517 boot cut), coloration (dark used, mid used), button and rivet colors (gold, silver,
bronze), inseam length, and extra treatments (sanding, paint drips). From start to
delivery takes about a month’s time. This describes one example of why consumers
shop and shop and buy online, which is
A. control.
B. cost.
C. choice.
D. customization.
E. convenience.
Answer:
Figure 18-2
Marketers produce a customer experience through seven website design elements: (1)
context; (2) content; (3) community; (4) customization; (5) communication; (6)
connection; and (7) __________.
A. creativity
B. commerce
C. control
D. consistency
E. collaboration
Answer:
Generation X is the label often given to
A. persons born between 1965 and 1976.
B. persons 65 years old and older.
C. those who survived the great depression.
D. the “greatest generation” born between the baby boomer generation and their parents
that were called Generation W, the World War II generation.
E. those people who were born since the millennium.
Answer:
CDI/BDI Marketing Dashboard
As shown in the CDI/BDI Marketing Dashboard above, a BDI of 30 is determined by
__________.
A. finding the percent of the U.S. population in the “Households without children”
segment divided by the percent of Hawaiian Punch sold to households without children
in the U.S. multiplied by 100
B. subtracting the total number of non-users from the total number of users of Hawaiian
Punch sold to households without children
C. finding the difference in total sales of Hawaiian Punch between households who
have children with those who do not
D. finding the percent of Hawaiian Punch sold to U.S. households without children
divided by the percent of the U.S. population in the “Households without children”
segment multiplied by 100
E. using the ratio of sales revenue of the firm to the total sales revenue of all firms in
the industry, including the firm itself
Answer:
CAFTA-DR, a comprehensive free trade agreement between Costa Rica, the Dominican
Republic, El Salvador, Guatemala, Honduras, Nicaragua, and __________.
A. the United States
B. Panama
C. Belize
D. Cuba
E. Mexico
Answer:
The central business district refers to
A. a suburban mall that contains up to 100 stores and draws customer from 5 to 10
miles away.
B. the oldest retailing setting, located in a community’s downtown area.
C. a retail location that typically has one primary store and about 20 to 40 smaller
outlets, and serves a population base of about 100,000.
D. a cluster of stores that serves people who are within a five- to ten-minute drive and
serves a population base of under 30,000.
E. a collection of large stores over 100,000 square feet that offers a mix of about 40
percent food products and 60 percent general merchandise items.
Answer:
The promotional objective of the decline stage of the product life cycle is to
__________.
A. recommit
B. persuade
C. compare
D. remind
E. phase out
Answer:
Consumer products refer to
A. products used in the production of other items.
B. products purchased by the ultimate consumer.
C. products an industrial buyer will make an effort to seek out and buy.
D. items purchased frequently and with a minimum of shopping effort.
E. products that assist directly or indirectly in providing products for resale.
Answer:
A maintained markup refers to
A. the difference between the final selling price and the retailer’s cost.
B. the amount subtracted from the cost the retailer paid for a product to reach the initial
selling price.
C. the amount the manufacturer adds to achieve the desired suggested retail price.
D. the net margin.
E. the highest price listed for the product.
Answer:
Elastic demand exists when
A. a small percentage decrease in price produces a smaller percentage increase in
quantity demanded.
B. a small percentage decrease in price produces a larger percentage increase in
quantity demanded.
C. an increase in price causes a larger increase in quantity demanded.
D. the quantity demanded remains the same regardless of level of price.
E. no change in price produces a small percentage change in quantity demanded.
Answer:
Idle production capacity refers to
A. the minimum number of customers that a service provider can serve and still remain
profitable.
B. the maximum number of customers that a service provider must serve in order to
remain profitable.
C. the ability of a service provider to redirect its efforts so even when there is no
primary demand, employees are still able to meet selective demand.
D. a situation that occurs when a service provider is available but there is no demand
for the service.
E. a situation that occurs when the primary demand for a service exceeds that number
of service deliverers available to meet that demand.
Answer: