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Beer marketers know that high school educated, working-class males from the ages of
25 to 40 make an attractive market for their products. This is a __________ segment of
the beer market.
A. demographic
B. psychographic
C. behavioral
D. benefits
E. geographic
Answer:
Typically, B2B buyers ask potential suppliers to
A. write the RFP for the buyer.
B. submit formal proposals.
C. sponsor interviews with final customers in order to determine product needs.
D. always be involved in reselling.
E. organize themselves into selling cooperatives.
Answer:
According to your text, in the broadest terms, the "marketplace" refers to
A. wholesale and retail environments.
B. brick-and-mortar stores and the Internet.
C. the four Ps.
D. channels that are accessible to a given customer.
E. the world of trade.
Answer:
If there is a difference between the actual service provided to customers and the service
the firm has promoted, a __________ gap exists.
A. seniority
B. knowledge
C. standards
D. delivery
E. communication
Answer:
A firm's marketing communication strategy is formulated specifically to
A. increase its frequency ratio.
B. control its public image.
C. increase its social media presence.
D. communicate the value of its product(s).
E. increase its return on investment.
Answer:
Digital billboards embedded with ________ software can identify passersby and then
display ads targeted to them, based on their age, gender, and attention level.
A. social media
B. neuromarketing
C. facial recognition
D. Internet tracking
E. data mining
Answer:
When a product is successful in the introductory stage of the product life cycle,
A. it moves directly into the maturity stage.
B. it is most likely to begin to launch spinoffs.
C. competition becomes less important.
D. it may start to see profits toward the end of this stage.
E. marketing costs increase significantly.
Answer:
The break-even point is estimated by
A. multiplying revenue per unit times the quantity sold.
B. dividing fixed contribution per unit by variable costs.
C. multiplying fixed costs by contribution per unit.
D. dividing fixed costs by contribution per unit.
E. dividing variable costs by fixed costs.
Answer:
Tess is the marketing manager for a fast-food restaurant chain. She uses a target return
pricing strategy because her firm's primary objective is to
A. increase profits.
B. increase sales.
C. decrease competition.
D. build customer satisfaction.
E. broaden the product line.
Answer:
Manufacturers that use just-in-time manufacturing systems coordinate closely with
suppliers to ensure that materials and supplies arrive just before they are needed in the
manufacturing process. While just-in-time systems can offer major advantages in terms
of inventory costs, they must be carefully managed. If a firm found that its just-in-time
system was badly managed, leading to frequent manufacturing delays due to missing
parts, this would represent a(n) __________ in a SWOT analysis.
A. weakness
B. opportunity
C. threat
D. strength
E. metric
Answer:
The __________ diffusion of innovation group is crucial because few new products can
be profitable until this large group buys them.
A. innovator
B. laggard
C. late majority
D. early majority
E. early adopter
Answer:
Because they do so much driving while visiting doctors' offices and hospitals,
pharmaceutical sales representatives are often given company cars to drive. When a
pharmaceutical company like Merck is preparing to purchase new company cars, sales
reps' feedback will be sought on car models and features, but the final decision will be
made by higher levels of management. What role(s) do the sales reps play in the buying
center?
A. users
B. initiators
C. influencers
D. users and influencers
E. users and initiators
Answer:
If a radio station holds an online contest in which you must log in to its website and
submit personal details such as name, phone number, and email in order to participate,
the radio station is
A. offering an exchange.
B. behaving unethically.
C. hoping to receive feedback.
D. implementing a CRM program.
E. overstepping its role.
Answer:
__________ occurs when the brand extension adversely affects consumer perceptions
about the attributes the core brand is believed to hold.
A. Corporate branding
B. Brand extraction
C. Brand collusion
D. Brand personality destruction
E. Brand dilution
Answer:
Which of the following specifically prohibits monopolies?
A. Sherman Antitrust Act
B. Federal Trade Act
C. Robison-Patman Act
D. Financial Reform Law
E. Consumer Product Act
Answer:
Charges that firms are using 'sweatshop" labor to produce their products are likely to
occur during the __________ phase of the strategic marketing planning process.
A. planning
B. implementation
C. control
D. evolution
E. marketing mix
Answer:
A local art gallery keeps information on its customers regarding their preferences for
certain artists as well as the style of art that interests them. The gallery uses this
information to inform the customers when new products arrive from their favorite
artists and targets them with special promotions. In this way, the gallery is using
_______ to build loyalty among its customers.
A. value cocreation
B. customer relationship management
C. transactional marketing
D. B2B marketing
E. the supply chain
Answer:
To determine the market potential for its particular product or service, a firm should use
A. GDP data.
B. unemployment data.
C. purchasing power parity data.
D. inflation data.
E. as many metrics as it can obtain.
Answer:
The __________ is the combination of media used and the frequency of advertising in
each medium.
A. media plan
B. media buy
C. media mix
D. communications tactical plan
E. communications operational plan
Answer:
Carla has been directed by her regional marketing manager to cut prices on seasonal
items, place an ad in the local paper, and tell distributors to reduce deliveries for the
next month. Which step of the strategic marketing planning process is Carla engaged
in?
A. evaluate performance
B. define the business mission
C. perform situation analysis
D. implement marketing mix and resources
E. identify and evaluate opportunities
Answer:
The knowledge retailers can gain from their store personnel and customer relationship
management databases is valuable for developing
A. supply chain relationships.
B. extreme value retailing efforts.
C. increased customer loyalty.
D. global private-label brands.
E. omnichannel retailing.
Answer:
Unlike a firm's mission statement or employee handbook, a firm's organizational culture
often
A. lists specific job tasks for employees.
B. is of no importance to purchase decisions.
C. exists as a set of unspoken guidelines.
D. is ignored by the vast majority of employees.
E. determines the order specification process.
Answer:
In the past, manufacturer's representatives did not have real-time inventory data about
the products they were selling. Today, manufacturer's representatives are often provided
online access to inventory data for the companies they represent. These online
inventory systems allow companies to become more value driven by
A. sharing information across the organization.
B. balancing customers' benefits and costs.
C. evaluating strategic competitive partnerships.
D. building relationships with government regulators of marketing institutions.
E. keeping prices below those charged by competitors.
Answer:
Globalization refers to the processes by which goods, services, capital, people,
information, and ideas
A. are onshored and offshored.
B. flow across national borders.
C. are integrated through IMF facilitation.
D. are similar in various markets.
E. affect corporate culture.
Answer:
Which of the following is not one of the activities carried on in a distribution center?
A. coordinating inbound transportation
B. receiving, checking, storing, and cross-docking merchandise
C. distributing paychecks and paystubs for retail employees
D. getting merchandise floor ready
E. coordinating outbound transportation
Answer:
Physicians regularly overstate the expected recovery time from surgery, knowing that
managing patients' expectations will reduce the __________ gap associated with their
service.
A. knowledge
B. empowerment
C. delivery
D. standards
E. communication
Answer:
Greg is planning an advertising campaign to promote his kayak tour company. The
success of his ad campaign depends on
A. the quality of his kayaks.
B. how much money he spends.
C. how well he can identify his target audience.
D. how much consumers like him.
E. whether he can gain commitments from manufacturers for complementary products.
Answer:
Firms can close the __________ gap by matching customer expectations with actual
service through use of marketing metrics.
A. seniority
B. knowledge
C. standards
D. delivery
E. communication
Answer:
Studies have found that customers are typically ready to make a purchase decision well
before salespeople attempt to close the sale. Salespeople can learn when to close the
sale by
A. listening to customers and paying attention to their body language.
B. keeping accurate records regarding how long it took to close sales in the past.
C. asking sales personnel to estimate the average time before customers are ready to
close.
D. using the same selling process for all customers.
E. monitoring and mimicking the closing process used by their sales managers.
Answer:
Retailers in expensive resort areas often find it difficult to hire quality salespeople. In a
situation like this, retailers should consider augmenting or even replacing the sales and
customer service functions with
A. expanded hours of operation.
B. continuous use of promotions.
C. in-store kiosks or self-checkout lanes.
D. special attention to product placement in their stores.
E. variable pricing strategies.
Answer:
For retailers, promotion refers to
A. supply chain communication.
B. the relationship between price and product.
C. the image a store attempts to maintain through its pricing strategy.
D. both their in-store environment and their media communications.
E. the seasonal discounts offered to move end-of-season items.
Answer:
Through analysis of sales data, Price-Cutters retail store found that customers who
bought peanut butter also tended to buy bananas. Price-Cutters was engaged in
A. syndicated surveying.
B. focus group analysis.
C. behavioral analysis.
D. data mining.
E. structured sampling.
Answer:
Political consultants have been using marketing research for decades to help their
candidates understand
A. who makes up the voting public and how to reach them.
B. what ethical lapses they can get away with.
C. which consumers spend the most money.
D. how large their campaign signs should be.
E. how to buy the votes they need.
Answer:
The evolution of marketing progressed along the following continuum:
A. sales, marketing, value-based marketing, production.
B. marketing, value-based marketing, production, sales.
C. value-based marketing, production, sales, marketing.
D. production, sales, marketing, value-based marketing.
E. sales, value-based marketing, marketing, production.
Answer:
When Apple Computer Company introduced the iPhonea combination phone, MP3
player, and Internet access devicein 2007, it was priced at $499, considerably higher
than either the iPod or competing cell phones. Hoping to attract innovators and early
adopters, Apple was most likely pursuing a __________ pricing strategy.
A. market penetration
B. slotting allowance
C. price fixing
D. reference price
E. price skimming
Answer:
