________ means marketing a product in a foreign market without making any changes
to the product.
A) Product adaptation
B) Product invention
C) Communication adaptation
D) Straight product extension
E) Product augmentation
Orion Inc. markets luxury watches. It targets the wealthy global elite segment,
regardless of their geographic location. Orion most likely uses ________ segmentation.
A) income
B) age-group
C) occasion
D) benefit
E) cross-market
Which of the following is most likely a fixed cost?
A) sales representative commissions
B) product distribution costs
C) manufacturing input costs
D) temporary worker salaries
E) facility rental payments
Which of the following has lost population in the past two decades?
A) California
B) Florida
C) the Western states
D) the Northeast states
E) the Southern states
Modern strategic planning ________.
A) exclusively consists of a company’s short-term goals
B) is decentralized
C) does not involve cross-functional teams
D) does not take the overall mission of the company into consideration
E) is highly centralized
When a seller requires its dealers to abstain from handling competitors’ products, it is
called ________.
A) subjective distribution
B) exclusive dealing
C) selective distribution
D) exclusive pricing
E) disintermediation
Cybertron Inc. was accused of deceptive pricing. Which of the following explains what
most likely occurred?
A) Cybertron refused to advertise sale prices in the local paper.
B) Cybertron sold only defective products at the advertised price.
C) Cybertron advertised a large price reduction from a phony high retail list price.
D) Cybertron misrepresented a product’s features in an ad.
E) Cybertron used misleading labeling.
Trade shows most likely help companies to ________.
A) maximize productivity
B) find new sales leads
C) trim overhead costs
D) reduce the inside sales force
E) shorten the selling process
Fifty percent of the market is in the hands of Company A, 30 percent is in the hands of
Company B, 15 percent is in the hands of Company C, and the remaining 5 percent is in
the hands of Company D. Based on these hypothetical numbers, Company D is the
market ________.
A) leader
B) challenger
C) follower
D) nicher
E) maven
Nonpersonal communication channels include major media, ________, and events.
A) sales calls
B) atmospheres
C) buzz marketing
D) word-of-mouth influence
E) phone calls
Ultra Tech Inc., a company manufacturing gardening tools, has decided to switch to a
territorial sales force structure. Which of the following benefits is the company most
likely to gain as a result of this decision?
A) The cost of training new recruits would be eliminated.
B) An increased focus on short-term customer relationships would boost local sales of
specialized products.
C) Each salesperson would be assigned to sell a single product in which he/she
specializes.
D) The capacity for mass production of a wide range of products would significantly
increase.
E) As each salesperson travels within a limited geographic area, travel expenses would
decline.
Which of the following are value discipline strategies?
A) operational excellence, overall cost leadership, and differentiation
B) customer intimacy, operational excellence, and focus
C) employee relations, product leadership, and overall cost leadership
D) product leadership, customer intimacy, and focus
E) operational excellence, customer intimacy, and product leadership
Mission statements should ________ and be defined in terms of ________.
A) be technology oriented; meeting the self-actualization needs of customers
B) be product oriented; satisfying the esteem needs of customers
C) embody the company’s short-term plans; current opportunities
D) be market oriented; satisfying basic customer needs
E) address sales and profits; the net return on investments
________ are facing slow sales growth because of slower population growth, increased
competition, and the rapid growth of out-of-home eating.
A) Warehouse clubs
B) Off-price retailers
C) Discount stores
D) Supermarkets
E) Factory outlets
________ refers to the standard that establishes the amount each salesperson should sell
and how sales should be divided among the company’s products.
A) Conditional sale
B) A bill of sale
C) A sales quota
D) Prospecting
E) Satisficing
Which of the following marketing management orientations focuses primarily on
improving efficiencies along the supply chain?
A) production concept
B) product concept
C) selling concept
D) marketing concept
E) societal marketing concept
The two key economic factors reflecting a country’s attractiveness as a market are its
industrial structure and its ________.
A) communication adaptation
B) nontariff trade barriers
C) exchange controls
D) income distribution
E) transportation systems
________ includes all the activities involved in selling products or services directly to
final consumers for their personal, nonbusiness use.
A) Franchising
B) Retailing
C) Brokering
D) Wholesaling
E) Disintermediation
Titan Inc., an automobile manufacturer based in Utah, recently added two new models
to its existing line of sedans in order to increase profits and satisfy dealers. This is an
example of ________.
A) line filling
B) social marketing
C) market diversification
D) negative brand equity
E) person marketing
In a(n) ________ channel, the same member both produces and distributes a product or
service to consumers.
A) tiered
B) direct
C) platform
D) vertical
E) exclusive
A(n) ________ is a limit on the amount of goods that an importing country will accept
in certain product categories.
A) embargo
B) tariff
C) benchmark
D) quota
E) exchange control
Sage Hospitals, a nonprofit organization, provides healthcare to the people in the
Midwest. Management at Sage is involved in the ________ market.
A) government
B) consumer
C) wholesale
D) institutional
E) resell
Which of the following is true of promotional pricing?
A) It leads to ‘deal-prone’ customers who buy products only during sales.
B) It fortifies the brand’s image in the eyes of customers if relied upon extensively.
C) It simplifies shopping for customers if used simultaneously by multiple stores.
D) It makes balancing short-term sales incentives against long-term brand building
unnecessary.
E) It is extremely beneficial for the brand’s profitability if practiced repeatedly.
Cameron loves to own and be up-to-date on the latest technological gadgets available in
the market. Among his friends, he is always the first to own the latest electronic
gadgets. He loves trying out new products before others. Cameron most likely belongs
to the ________ adopter group.
A) innovator
B) surrogate consumer
C) late mainstream
D) early mainstream
E) lagging
Describe the major types of buying situations.
Discuss the advantages and disadvantages of advertising.
Briefly explain why economic communities are formed.
Explain how a firm benefits from using sense-of-mission marketing.
Public relations specialists use several tools. Identify three of these tools and describe
how they can help a company communicate with the public.
Identify and describe the stages in the adoption process.
How do socially responsible firms positively impact consumers and the environment?
How do suppliers help companies like Walmart maintain consistently low prices?
Define marketing planning. What are the contents of a marketing plan?