Jaygo Food Stores hires better employees than the competition by conducting lengthy
searches and interviews. Management also trains employees much better than
competitors. Jaygo has gained a strong competitive advantage through which type of
differentiation?
A) image
B) people
C) services
D) product features
E) cost
Your firm has decided to tailor its products and services to meet local market demands.
A good approach to use would be ________ segmentation.
A) geographic
B) psychographic
C) usage
D) positioning
E) social class
Which of the following is NOT one of the four main roles performed by marketing
communication?
A) to inform
B) to entertain
C) to persuade
D) to remind
E) to build relationships
________ has the highest cost per contact with each customer.
A) Direct marketing
B) Advertising
C) Mass marketing
D) Personal selling
E) Public relations
________ are a form of product that are essentially intangible.
A) Innovations
B) Services
C) Brands
D) Consumer products
E) Supplements
John H. Harland Company is a large company with 5,200 employees and almost $800
million in annual sales. The company is best known for printing personal and business
checks. Harland Analytical Services is a technology company that produces software
that enables banks to gauge the behavior of their customers by tracking their spending
habits. In addition, Harland owns Scantron, a computerized testing and assessment
company. The ________ for John H. Harland Company includes its check-printing
business, its financial software business, and its testing and assessment business.
A) business portfolio
B) marketing mix
C) market penetration
D) functional plan
E) market classification
Consumer satisfaction/dissatisfaction is part of the ________ step of the consumer
decision-making process.
A) problem recognition
B) information search
C) evaluation of alternatives
D) product choice
E) postpurchase evaluation
According to an axiom in marketing, the more ________ the product, the more heavily
firms tend to rely on personal selling to promote it.
A) popular
B) available
C) intangible
D) impersonal
E) marketable
An intermediary who ________ legally owns the goods being handled.
A) breaks bulk
B) takes title
C) creates assortments
D) takes consignments
E) selectively distributes
Shane pulled her car into the gas station just as the fuel gauge dropped below empty. In
this example, Shane benefited from the ________ utility offered by the gas station.
A) creation
B) place
C) value
D) marketing
E) quality
According to the BCG growth-market share matrix, ________ are strategic business
units with products that have a dominant market share in a low-growth potential
market.
A) dogs
B) exclamation points
C) cash cows
D) stars
E) question marks
When a firm offers one or more products to a single segment, it is using a ________
strategy.
A) fragmented
B) homogeneous
C) custom marketing
D) mass customization
E) concentrated targeting
The YMCA and Gold’s Gym engage in ________ competition when they both try to
attract customers to buy their fitness center services.
A) discretionary income
B) product
C) brand
D) monopolistic
E) oligopolistic
A daycare center operator wanted to survey her parents to determine if they were
interested in the center providing once-a-month Saturday night care for their children.
Rather than survey all 254 parents, the operator took the list of parents’ names and,
starting with the third parent’s name, surveyed every twelfth parent. What type of
sampling did the daycare operator use?
A) simple random sampling
B) convenience sampling
C) stratified sampling
D) systematic sampling
E) non-probability sampling
Once a company has conducted exploratory research and reviewed the resulting data, its
next step is most likely which of the following?
A) conduct descriptive research
B) calculate the representative sample size
C) identify secondary data sources
D) select a primary data collection method
E) conduct qualitative research
The product life cycle concept can be applied by marketers as a useful framework for
describing how ________.
A) to forecast product performance
B) to develop marketing strategies
C) a market responds to a product over time
D) product ideas are developed
E) a brand gains a dominant position in the market
Joe Bergerson makes and sells maple racks for cooling cakes and cookies. Joe knows
that it costs $15 to make one rack, and he wants to earn a 25 percent profit on each rack.
Which approach to pricing is Joe most likely to use?
A) demand-based pricing
B) target costing
C) cost-plus pricing
D) yield management pricing
E) value pricing
A new pizza restaurant is opening in town. The owners of this restaurant decide to place
an advertisement in the town newspaper announcing the date of their big opening. The
owners of the restaurant are using ________.
A) mass communications
B) a push strategy
C) word-of-mouth communications
D) public relations
E) one-to-one marketing
Timely topics and research project stories are both types of ________.
A) advertising appeals
B) advocacy advertising
C) puffery
D) press releases
E) creative strategies
Personality is ________.
A) an internal state that drives us to satisfy needs
B) the process by which people select, organize, and interpret information from the
outside world
C) a change in behavior caused by information or experience
D) a lasting evaluation of a person, object, or issue
E) the set of unique psychological characteristics that consistently influence the way a
person responds to situations in the environment
According to the theory of the wisdom of crowds, under the right circumstances
________.
A) a mass market approach is favorable to a target market approach
B) a target market approach is favorable to a mass market approach
C) groups are smarter than the smartest people in them
D) companies can make money by giving their products away for free
E) consumers can generate value
A business buys candy and gum from many different manufacturers and then resells the
items to a variety of different stores. The business is an example of a(n) ________.
A) independent intermediary
B) manufacturer-owned intermediary
C) disintermediator
D) reverse marketer
E) brokerage company
The ________ was established by the Federal Trade Commission in 2003 to allow
consumers to limit the number of telemarketing calls they receive.
A) National Do Not Call Registry
B) Child Protection Act
C) Federal Communications Commission
D) Consumer Products Safety Commission Act
E) Robinson-Patman Act
Which of the following statements about manufacturers’ agents is true?
A) Manufacturers’ agents are also called manufacturers’ brokers.
B) Manufacturers’ agents most typically work for only one manufacturer.
C) Manufacturers’ agents are compensated with commissions based on a percentage of
what they sell.
D) Manufacturers’ agents have unlimited sales territories.
E) Manufacturers’ agents are entirely supervised by the manufacturer for whom they
sell.
Which of the following is an instrument to measure consumers’ perceptions of service
quality?
A) total quality management (TQM)
B) capacity management
C) credence management
D) SERVQUAL
E) servicescape
When a gap exists between a consumer’s actual state and some ideal or desired state, the
consumer has a ________.
A) benefit
B) demand
C) need
D) value
E) utility
Buyers, sellers, investors, and community residents are all considered ________ in a
company.
A) stakeholders
B) shareholders
C) consumers
D) value chain members
E) social marketers
One of the reasons given for the success of reality television shows is that the shows
appeal to a cultural bias that real-life drama is preferable to fiction. Americans desire
adventure and escapism that offer them the opportunity for participation but do not
require it. In terms of the five characteristics of innovations that affect the rate of
adoption, reality television shows have a high degree of ________.
A) innovation
B) complexity
C) tangibility
D) divisibility
E) compatibility
A young couple contacted a realtor about buying a new home. Now that the realtor has
prospects, his next step should be to ________.
A) handle any of their objections
B) qualify them
C) prepare his approach
D) make a thorough sales presentation
E) close the sale
Johnson Controls, Inc. produces the seats for the Dodge Neon. Although Johnson
initially was able to meet Dodge’s cost target, it was not able to meet its safety, weight,
and comfort specifications. Engineers from Dodge visited the Johnson plant and
worked with its design people to create a seat that met all of the technical requirements
at a cost that both could agree on. Johnson Controls and Dodge engaged in ________.
A) reciprocity
B) functionalization
C) reverse marketing
D) crowdsourcing
E) multiple sourcing
Which of the following is NOT a channel intermediary?
A) the supplier of the raw materials used to make glass windows
B) the distributor who sells stained glass windows
C) the wholesaler who buys the stained glass window from its creator
D) the showroom that displays glass windows for customers to see
E) the manufacturers’ agent who sells the stained glass windows
Which of the following is NOT an advantage of online questionnaires?
A) speed
B) low costs
C) almost instantaneous results
D) control over who respondents are
E) no geographic restrictions
In 2001, the United Methodist Church budgeted $4 million for ads to encourage former
church members to return to church. This ad campaign is an example of ________.
A) product improvement
B) market fulfillment
C) place marketing
D) people marketing
E) idea marketing
The current event television shows that are specifically designed to be broadcast in U.S.
high school classrooms contain some ads from sponsors of the educational program.
The ads reach this captive audience through the use of ________ media.
A) augmented reality
B) out-of-home
C) place-based
D) mobile
E) permission
How can a firm benefit from participating in a horizontal marketing system?
Explain the difference between the practices of forward buying and diverting.
Identify two postpurchase evaluation metrics that may be used in the B2B buying
process.
How do consumers benefit from price bundling? Give an example of price bundling.
Explain the rationale for identifying the best modes of transportation for a product.
Why should a company be concerned about integrating communications from different
sources within the company?
How does a product category manager differ from a market manager?
Why might a company use crowdsourcing?
Russia implemented a policy of protectionism that limited the importing of meats.
Explain why Russia might have implemented such a policy.
What is the difference between total quality management (TQM) and the Six Sigma
process?
How does reverse marketing work?
What are some advantages of a farmer selling strawberries grown on his farm directly
to consumers instead of using channel intermediaries?
How has the Internet made it easier for companies to use dynamic pricing strategies?
Use an example in your explanation.
In a marketing context, a person’s attitude has three components. What are these
components? List and briefly describe each in the context of marketing.
An advertising agency’s research division sends researchers into homes with handheld
video cameras to get pictures of how and why people use products. What method of
research is this advertising agency implementing? Explain your answer.
Pier 1 Imports started as a single store in San Mateo, California, offering low-priced
beanbags, love beads, and incense to baby boomers. Today it sells quality home
furnishings and decorative accessories. Why is Pier 1 Imports a perfect case study of
the wheel-of-retailing hypothesis?