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Which of the following is not one of the benefits to a firm of new product
development?
A. reducing the costs of production
B. satisfying the changing needs of current and new customers
C. avoiding market saturation from products that have been on the market for a long
time
D. creating diversification and reducing risk
E. keeping up in a market with short product life cycles where sales come mostly from
new products
Answer:
Which of the following is the correct sequence of new product adopters in the diffusion
of innovation curve?
A. innovators, early adopters, early majority, late majority, laggards
B. early adopters, early majority, innovators, late majority, laggards
C. innovators, early majority, early adopters, innovators, late majority, laggards
D. early majority, late majority, early adopters, innovators, laggards
E. innovators, late majority, early adopters, early majority, laggards
Answer:
Effective service recovery entails all of the following except
A. listening to the customer.
B. estimating the damage.
C. providing a fair solution.
D. resolving the problem quickly.
E. involving customers in the service recovery where possible.
Answer:
Jami sells construction equipment. Whenever she calls on her building contractor
customers, she asks if they are having any problems. In doing so, Jami is addressing
which of the following core aspects of marketing?
A. satisfying customer needs and wants
B. completing the exchange function of marketing
C. making product, place, promotion, and price decisions
D. making decisions about the setting in which marketing takes place
E. creating value
Answer:
Paula has developed a successful business selling appliances to homebuilders. She
carefully monitors the issuance of new home permits to anticipate how many appliances
she will need to buy in order to supply her customers. Paula is concerned with
__________ demand.
A. modified
B. secondary
C. rebuy
D. derived
E. delayed
Answer:
When a group of industry professionals discussed the ingredients necessary to attract
positive attention from Facebook's 1.19 billion users, they agreed that a successful
campaign must
A. tell a story.
B. be promotion based.
C. be unique.
D. have a celebrity endorsement.
E. generate "buzz."
Answer:
In 2006, Ford Motor Company announced it would severely cut back its automobile
production. For parts companies supplying Ford its parts, this represented a(n)
A. weakness.
B. opportunity.
C. strength.
D. threat.
E. asset.
Answer:
Reaching the right audience with marketing communications is becoming more difficult
because
A. consumers are bored.
B. government regulations are constraining free speech.
C. personal selling is becoming less expensive, making it more competitive with
advertising.
D. the media environment has become more complicated.
E. the AIDA model no longer represents how marketing communication works.
Answer:
Where does retailing fall in the supply chain?
A. at the end
B. in the center
C. first
D. second
E. no where
Answer:
_______ channel conflict occurs when members of the same marketing channel, for
example, manufacturers, wholesalers, and retailers are in disagreement or discord.
A. Horizontal
B. Independent
C. Conventional
D. Coercive
E. Vertical
Answer:
Gypsy just bought a gift and jewelry store on Main Street. She knows from the previous
owner that almost 60 percent of her sales take place during the Christmas holiday
season, with the other 40 percent of sales evenly distributed over the rest of the year.
Gypsy will probably use a __________ advertising schedule.
A. continuous
B. flighting
C. pulsing
D. penetrating
E. purposeful
Answer:
_______ products are products whose demands are positively related and as such, they
rise or fall together.
A. Substitute
B. Premium
C. Elastic
D. Inelastic
E. Complementary
Answer:
__________ offer an inconsistent assortment of brand-name merchandise at low prices.
A. Department stores
B. Specialty stores
C. Category killers
D. Off-price retailers
E. Full-line discount stores
Answer:
Which of the following data sources would not be considered external secondary data?
A. U.S. Census data
B. syndicated data
C. newspaper articles
D. scanner data
E. a survey
Answer:
When choosing where to eat lunch, Veronica's major service criterion is speed: being
seated promptly and served her meal quickly. For Veronica, __________ is the most
important of the five service quality dimensions.
A. assurance
B. reliability
C. tangibles
D. responsiveness
E. empathy
Answer:
Which of the following global entry strategies is being used if a company collaborates
with a competitor on a globally based opportunity for mutual benefit, but the
competitors do not invest in each other?
A. franchising
B. joint venture
C. strategic alliance
D. direct investment
E. equity partnership
Answer:
The local auto supply store gets merchandise delivered to it by its manufacturers as
soon as it has a need, reducing stockouts with minimal inventory. This demonstrates the
concept of
A. data warehousing.
B. a push marketing strategy.
C. vendor-managed inventory.
D. manufacturer-managed distribution.
E. cross-docking.
Answer:
A former advertising campaign for GEICO Insurance used the slogan "So easy, even a
caveman could do it" to emphasize the ease of buying insurance on GEICO's website.
This campaign was part of GEICO's
A. mission statement.
B. market segmentation plan.
C. product strategy.
D. customer excellence strategy.
E. positioning strategy.
Answer:
The __________ is the primary enforcement agency for mass media advertising.
A. FDA
B. FCC
C. FTC
D. BATF
E. USPS
Answer:
Christopher bought Timberland boots because he felt they were perfect for his outdoor
activities. Patrick bought the same kind of boots because he felt they were stylish,
especially with the logo clearly visible. The psychological factor driving Patrick's
behavior is
A. a functional need.
B. lifestyle.
C. his universal set.
D. learned behavior.
E. his evoked set.
Answer:
Internet buyers are sometimes surprised to see online retailers using information about
their past purchases to customize promotions targeted to them the next time they visit
the retailer's website. The retailer is using the information to
A. comply with Homeland Security requirements.
B. shift from a general merchandise retailer to a private-label retailer.
C. increase the share of wallet from their best customers.
D. create traffic in their brick-and-mortar stores.
E. reward customer loyalty.
Answer:
When a salesperson calls you to sell a cemetery plot, this is most likely what type of
product?
A. unsought product
B. shopping product
C. convenience product
D. line extension
E. secondary product
Answer:
Whenever the president of the local public university promotes the institution, he
emphasizes the university's price (much lower than neighboring private colleges) and
high quality. He is positioning the institution based primarily on
A. the value proposition.
B. product attributes.
C. symbols.
D. competitive comparisons.
E. profitability.
Answer:
Michelin Tire Company produces a variety of tires at factories in South Carolina. Name
three B2B markets in which Michelin might sell its tires.
Answer:
A __________ is a group of associated items that consumers tend to use together or
think of as part of a group of similar products.
A. product line
B. product mix
C. product mix breadth
D. line extension
E. brand extension
Answer:
The International Consumer Electronics Show is an example of a(n)
A. vendor conference.
B. product demonstration.
C. industry convention.
D. trade show.
E. consumer meeting.
Answer:
_______ channel conflict occurs when there is disagreement or discord among
members at the same level in a marketing channel, such as two competing retailers or
two competing manufacturers.
A. Horizontal
B. Independent
C. Conventional
D. Coercive
E. Vertical
Answer:
A(n) _______ is used in the shipment of products directly to customers.
A. fulfillment center
B. distribution center
C. administration center
D. data warehouse
E. vendor warehouse
Answer:
Ryan wants to sell personal website services to American soldiers in Afghanistan.
Because of the difficulty of communicating with people in a war zone, Ryan may have
trouble with this segment not being
A. substantial.
B. perceptive.
C. identifiable.
D. reachable.
E. quantifiable.
Answer:
The political/regulatory environment comprises political parties, governmental
organizations, and
A. legislation and laws.
B. citizens.
C. interest groups.
D. for profit and nonprofit businesses.
E. international influences.
Answer:
Yesenia, the new university course scheduling manager, is struggling with adjustments
to the fall schedule. She is trying to determine how to offer the classes students need at
the times when students need them. Yesenia is struggling with the marketing function of
A. communicating the value proposition.
B. managing the supply chain.
C. creating value.
D. capturing value.
E. cocreating value.
Answer:
