BUSMT 158 Midterm 1

Type

Quiz

Book Title

A Preface to Marketing Management 14th Edition

ISBN 13

978-0077861063

October 29, 2015

Which of the following is a disadvantage of using direct mail as an advertising

medium?

A. Lack of flexibility

B. Relatively high costs

C. Long closing periods

D. Nonselectivity of audience

Answer:

Which of the following is a demographic factor that influences the pricing decision of a

product?

A. The nature of the product

B. The potential buyers' need for prestige

C. The potential buyers' perception of product price and quality

D. The location of potential buyers

Answer:

Which of the following is an environmental influence on pricing decisions?

A. Price elasticity

B. Government regulations

C. Demographic conditions

D. Psychological factors

Answer:

Sunset Hotels provides soft skills training to its employees by imparting lessons on

basic communication skills, housekeeping techniques, body language, and basic

standards of dressing. In this case, on which of the following critical components of

internal marketing is Sunset Hotels focusing?

A. Significant modeling by managers

B. Careful selection process in hiring employees

C. Energetic follow-through process

D. Emphasis on teaching employees to have good attitudes

Answer:

The product launching step where a firm commits to introducing a product into the

marketplace is referred to as _____.

A. commercialization

B. test marketing

C. personal selling

D. direct marketing

Answer:

_____ retailing is the fastest-growing method of retailing.

A. Direct

B. Limited-line

C. System

D. Online

Answer:

David plans to use most of his savings to buy a new car. There is a model that he

particularly likes, but he is unsure about the car's performance in terms of mileage and

fuel efficiency. Which of the following factors is most likely affecting David's

decision-making process for buying this particular car?

A. Perceived functional risk

B. Postdecision dissonance

C. Perceived psychosocial risk

D. Disconfirmation paradigm

Answer:

According to the VALSâ„¢ model, Strivers are:

A. driven by knowledge and principles.

B. driven to demonstrate success.

C. driven by a desire for social or physical activity.

D. driven by a desire for risk taking.

Answer:

Firms may choose to develop corporate vertical marketing systems in order to:

A. obtain scale economies.

B. acquire location convenience.

C. concentrate sales in category killer chains.

D. decrease diversification costs.

Answer:

Light Eats is a buffet-style salad bar with locations in the South, West, and Midwest

United States. It serves a variety of salads, soups, and fresh farm products for the health

conscious. Recently, it has introduced a new unit called Frozen Fruits, which serves ice

creams and sorbets made from fresh fruits and vegetables. Which of the following new

product categories does the Frozen Fruits unit fall into?

A. New-to-the-world products

B. Revisions of existing products

C. Product repositionings

D. Additions to existing product lines

Answer:

Which of the following is an example of an environmental influence on pricing

decisions?

A. The cost structure used by competitors

B. The stage of the life cycle a product is in

C. The cost-oriented pricing strategy used by manufacturers

D. The economic strength of potential buyers

Answer:

The belief underlying the _____ segmentation approach is that the advantages people

are seeking in consuming a given product are the basic reasons for the existence of true

market segments.

A. psychographic

B. geographic

C. benefit

D. demographic

Answer:

Hilda wants to purchase an expensive denim jacket from Alven's Corner, a premium

apparel store. Her friend, Martha, suggests that Hilda buy the same jacket for half the

price from a discount store in her neighborhood. Hilda, however, believes that the high

cost of the jacket in Alven's Corner is an indication of its premium quality, and so she's

willing to pay more. Which of the following psychological pricing strategies has

Alven's Corner used to price its product?

A. Odd pricing

B. Prestige pricing

C. Bundle pricing

D. Option pricing

Answer:

Which of the following is true of customer satisfaction measurement?

A. Customer satisfaction measurement programs and questionnaires are designed by

customers.

B. Customer satisfaction measurement is handled by top management and the

marketing department of an organization.

C. Customer satisfaction measurement includes evaluation of company's satisfaction

performance and excluded competitors' satisfaction performance.

D. Results of all research related to customer satisfaction measurement were made

available to customers, but not necessarily to employees.

Answer:

Tracy has always wanted to become a doctor. She believes that her life's true calling is

to help others and save lives. Tracy works at two part-time jobs to pay for medical

school. According to Maslow's hierarchy of needs theory, which of the following gives

Tracy her drive and focus?

A. Physiological needs

B. Self-dissonance needs

C. Safety needs

D. Self-actualization needs

Answer:

In the context of global marketing, which of the following best exemplifies an offensive

goal?

A. An American software firm planning to take advantage of the significant differences

in the operating costs between America and Japan

B. A leather manufacturer aiming to expand its operations to other nations to enjoy the

benefits of economies of scale

C. An oil dealer aiming to preempt its competitors' global moves

D. A Finnish electronic goods manufacturer planning to acquire technological

innovations developed in the United States

Answer:

Tingle Inc. is an American food processing company. The company manufactures

processed mayonnaise, cheese, cheese slices, jams, and white sauce and distributes its

products to supermarkets and dealers in England, Norway, and Sweden through

container ships. Which of the following approaches is Tingle Inc. using in this

scenario?

A. Exporting

B. Licensing

C. Franchising

D. Strategic alliance

Answer: