The emphasis of a marketing strategy for a continuous innovation concentrates on
A. obtaining narrow distribution.
B. setting a low price.
C. generating awareness.
D. using reminder advertising to reeducate consumers.
E. using personal selling.
Answer:
On a visit to Conner Industries, a West Plains Band Saw salesperson heard a production
employee saying, “This band saw has a 36-inch wheel that could really save us time,
and with its adjustable height, it can be operated by someone tall like me as well as by
our shorter workers. I bet this would speed up my production time by 30 percent. Why
don’t we order this band saw?” The person the salesperson heard giving input has which
buying center role?
A. purchasing agent
B. decider
C. buyer
D. user
E. motivator
Answer:
Advertising agencies that specialize in one aspect of the advertising process such as
providing creative services to develop advertising copy, buying previously
un-purchased media space, or providing Internet services are referred to as
__________.
A. full-service agencies
B. in-house agencies
C. modified-service agencies
D. promotional firms
E. limited-service agencies
Answer:
Suppose you want to buy an all-electric Tesla Model S, the world’s leading all-electric,
zero-emission car that has a 265-mile range and can be recharged in three hours. The
Tesla Model S Performance model has a list price of $87,500. However, you want
several options (Performance Plus Package, red multi-coat armor paint, Tech package,
Sound Studio Package, home charging station, performance wheels, and others) that
will cost $17,500. An extended warranty will add an additional $5,000. However, if you
put $50,000 down now and finance the balance over the next year, you will receive a
dealer rebate of $5,000 off the list price. The dealer will give you a $7,000 trade-in
allowance for your 2008 Honda Civic DX four-door sedan. In addition, you will have to
pay a state sales tax of $10,000, an auto registration fee of $1,000 to the state, and a
$1,000 destination charge to ship and prep the car. But because the Tesla Model S is an
alternative energy vehicle, you qualify for a $2,500 state rebate and a $7,500 federal tax
credit! Finally, your total finance charge is $7,000. Applying the price equation, what is
your final price for the Tesla Model S?
A. $57,000
B. $68,000
C. $87,500
D. $107,000
E. $151,000
Answer:
Which of the following is a type of full-service merchant wholesaler?
A. cash and carry wholesaler
B. rack jobbers
C. truck jobbers
D. specialty merchandise wholesaler
E. drop shippers
Answer:
Four key challenges that package and label designers face include: (1) connecting with
customers; (2) environmental concerns; (3) health, safety, and security issues; and (4)
__________.
A. social and societal issues
B. competition from global markets
C. cost reduction
D. governmental regulations
E. diminishing color, symbol, and trademark selections
Answer:
In terms of the online customer experience, context refers to
A. the ability of a website to modify itself to, or be modified by, each individual user.
B. a website’s aesthetic appeal and functional look and feel, reflected in site layout and
visual design.
C. the website’s ability to conduct sales transactions for products and services.
D. a patented feature that allows users to order products with a single mouse click.
E. the dialogue that occurs between the website and its users.
Answer:
Data visualization
A. is the visual computer display of the essential information related to achieving a
marketing objective.
B. is a road map for the marketing activities of an organization for a specified future
time period.
C. is the process of continuously collecting information about customers’ needs, sharing
this information across departments, and using it to create marketing metrics.
D. is a measure of the quantitative value or trend of a marketing activity or result is the
visual computer display of the essential information related to achieving a marketing
objective.
E. presents information about an organization’s marketing metrics graphically so
marketers can quickly spot deviations from plans and take corrective actions.
Answer:
When you buy a used car from a CarMax dealership, you are offered the car at a single,
no-haggle price. You can buy it or not, but there is no negotiating the published price
because of the seller’s
A. customary pricing strategy.
B. one-price policy.
C. uniform pricing policy.
D. dynamic pricing policy.
E. habitual pricing strategy.
Answer:
Figure 6-5
Figure 6-5 above outlines the distribution channels through which a product
manufactured in one country must travel to reach its destination in another country. B
represents the
A. channels within foreign nations.
B. channels between nations.
C. seller’s international marketing headquarters.
D. political forces.
E. final consumer.
Answer:
The marketing strategy of selling new products to current markets is referred to as
__________.
A. product penetration
B. product development
C. market development
D. diversification
E. market penetration
Answer:
Posttests that involve studies such as controlled experiments (e.g., using radio ads in
one market and newspaper ads in another and comparing the results) and consumer
purchase tests (measuring retail sales that result from a given advertising campaign) are
examples of
A. aided recall tests.
B. unaided recall tests.
C. attitude tests.
D. sales tests.
E. inquiry tests.
Answer:
Advertising that promotes a specific brand’s features and benefits is referred to as
__________ advertising.
A. competitive
B. institutional
C. differentiation
D. pioneering
E. reminder
Answer:
Figure 7-5
Figure 7-5 above shows how marketing researchers and managers use information
technology to turn information into marketing actions. What does C represent?
A. external data sources
B. results
C. data warehouse
D. internal data sources
E. buying queries
Answer:
Ethical exchanges between sellers and buyers should result in
A. the seller making a profit at the expense of the buyer.
B. the buyer getting the product for the best price at the expense of the seller.
C. both parties to the exchange being better off after a transaction.
D. the seller offering buyers its products and services at cost, especially during a period
of recession.
E. the buyer forming a strategic alliance with the seller.
Answer:
Which of the following statements about cost and its impact on online shopping is most
accurate?
A. Dynamic pricing is commonly used online because there is no need to respond
quickly to changes in supply and demand conditions.
B. The margins for online offerings are usually higher than those purchased in
traditional marketplaces.
C. Any price advantage for online purchases is lost in shipping and handling fees.
D. The majority of the most popular items bought online can be purchased at the same
price or cheaper than in retail stores.
E. Dynamic pricing is the most commonly used pricing strategy for Internet purchases.
Answer:
Walmart can obtain cooperation from manufacturers in terms of product specifications,
price levels, and promotional support, given its position as the world’s largest retailer.
Walmart plays the important role in a(n)
A. service-sponsored retail system.
B. administered vertical marketing system.
C. retailer-sponsored cooperative.
D. administered cooperative system.
E. manufacturer-sponsored cooperative.
Answer:
The key objective of a pioneering ad is to
A. promote a specific brand’s features and benefits.
B. show one brand’s strengths relative to those of competitors.
C. inform the target market.
D. reinforce previous knowledge of a product.
E. promote the advantages of one product class over another.
Answer:
Which of the following characterizes organizational buyer-seller relationships?
A. Purchases are often made after brief negotiations.
B. Purchases are usually of small dollar values.
C. Long-term contracts are often prevalent.
D. Reciprocal arrangements are prohibited by the federal government.
E. Delivery schedules are largely irrelevant.
Answer:
Market share is the ratio of sales revenue of the firm to the total sales revenue of all
__________, including the firm itself.
A. firms in the industry
B. firms in the competitive set
C. firms in the WTO
D. product groupings
E. domestic firms in a country
Answer:
Today’s organizations can be divided into three groups, which are __________
organizations.
A. company, nonprofit, and cooperative
B. corporation, employee-owned, and interest
C. for-profit, nonprofit, and government
D. employee, distributor, and customer
E. public, private, and international
Answer:
Data refer to the
A. subjective psychographic feelings collected by an organization upon which it bases
subsequent marketing actions.
B. objective demographic characteristics collected by an organization upon which it
bases subsequent marketing actions.
C. facts and figures related to the problem that are divided into two main parts:
secondary data and primary data.
D. information collected by a source other than the company itself used to determine
the best possible solution to a marketing problem.
E. facts and figures related to the problem that are only available for purchase from the
federal government.
Answer:
Which of the following types of promotion uses customized interaction?
A. advertising
B. direct marketing
C. public relations
D. sales promotion
E. publicity
Answer:
According to Tony Hsieh, CEO of Zappos, the company devotes the greatest amount of
time to
A. seeking out new and unusual styles of shoes from all over the world.
B. improving the website to make it faster, more interesting, and fun.
C. seeking out new markets that will go beyond the Internet.
D. finding the fastest and least expensive modes of delivery for its products.
E. finding ways to improve customer-service levels.
Answer:
For a promotional campaign, the sequence of stages a prospective buyer goes through
from initial awareness of a product to eventual action is referred to as __________.
A. the purchase continuum
B. the hierarchy of effects
C. the product life cycle
D. the consumer purchasing scale
E. Maslow’s hierarchy
Answer:
In 1984, IBM launched the PCjr, its first low-priced, educational/home personal
computer. Sales were poor because IBM most likely violated which criterion of picking
a good brand name?
A. The name was not distinctive nor memorable.
B. The name did not fit the company image.
C. The name had too many legal restrictions.
D. The name was too confusing with both capital and lowercase letters.
E. The name failed to suggest the product benefits.
Answer:
Recently, many organizations have added __________ to their mission statements.
A. a business definition
B. a social element to reflect an ideal that is morally right and worthwhile
C. an economic element to promote profit maximization
D. an expanded definition of stakeholders to include its competitors
E. their level of pricing and product quality
Answer:
Lava.com is an Internet company that helps other organizations implement marketing
strategies to help them dominate their industry. Lava’s advertising states, “We ignore the
rules, and we let no obstacle stand in your company’s way – no matter how bold or
impossible your idea may seem.” The company is composed of eighteen bright young
Internet experts. They work in one large room, which also contains dartboards, a pool
table, and a meditation center. If you were to walk into the office, it would be next to
impossible to tell the company owners from its lowest ranking employee. This best
describes the Internet company’s
A. modus operandi.
B. mission or vision.
C. socialization process.
D. business definition.
E. corporate culture.
Answer:
Which of the following is a criterion used for selecting a target segment?
A. potential for increased profit
B. similarity of needs of potential buyers within a segment
C. cost of reaching the segment
D. difference of needs of buyers among segments
E. potential of a marketing action to reach a segment
Answer:
Newman’s Own is a company that gives all of its profits to charities. The company
produces popcorn, salsa, pasta sauces, and salad dressings under the Newman’s Own
brand name. These product lines comprise the company’s
A. product mix.
B. stock keeping units.
C. product category.
D. product class.
E. marketing category.
Answer:
Two selling styles associated with the need-satisfaction presentation format are
A. adaptive selling and confrontational selling.
B. adaptive selling and consultative selling.
C. suggestive selling and canned selling.
D. adaptive selling and suggestive selling.
E. suggestive selling and consultative selling.
Answer:
There are several factors why a consumer would be reluctant to adopt a new product.
For example, a consumer might be reluctant to adopt a new product because of a value
barrier, which occurs when __________.
A. there are physical, economic, or social risks
B. there are cultural differences
C. the financial commitment is too great
D. there is no incentive to change
E. the product is not consistent with existing habits
Answer:
The stage of the new-product process that positions and launches a new product in
full-scale production and sales is referred to as __________.
A. marketing program execution
B. disbursement
C. launch
D. commercialization
E. final distribution
Answer: