If a brand creates a perception of greater value through effective marketing, which of
the following will be the most likely result?
A) increased sales revenue
B) decreased customer lifetime value
C) decreased utility
D) increased need
E) decreased demand
In a(n) ________, a buyer communicates specifications for the product and the exact
price he or she is willing to pay.
A. storefront price
B. online price
C. forward auction
D. reverse auction
E. clickthrough fee
Rent, electricity, and executive salaries are examples of ________.
A. fixed costs
B. variable costs
C. accumulated costs
D. total costs
E) marketing costs
Archetype is a Unilever company that successfully markets a number of different tea
brands around the world. Each brand appeals to the taste and emotions of local tea
markets. Which of the following is the most accurate classification for the marketing
Archetype does to create and promote specific products for the more than 100 countries
in which its products are sold?
A. a marketing audit
B. a strength
C. a threat
D. an opportunity
E. a business mission
The only time many people entertain is during November and December when their
homes are decorated for the season’s holidays. The increase in advertisements for
prepared trays of food to be served at these functions is most directly related to
________ segmentation.
A. psychographic
B. values
C. geographic
D. demographic
E. behavioral
The unemployment level is determined by the number of unemployed persons divided
by the ________.
A. total population
B. adult population
C. aggregate labor force
D. total number of employees in the private sector
E. total number of employees in the public sector
Which of the following is NOT an example of a fixed cost?
A. materials
B. utilities
C. payroll
D. rent
E. Web site hosting
Product placement, in which a company arranges for a brand or product to appear in an
entertainment vehicle such as a television show or movie, is an example of ________.
A. advertising
B. sponsorship
C. viral marketing
D. public relations
E. sales promotion
In which stage of the PLC will promotional expenditures be high in an attempt to
respond to increasing competition?
A. growth
B. decline
C. maturity
D. product development
E. adoption
A(n) ________ is a rule of conduct or action prescribed by an authority, or a binding
custom or practice of a community.
A. ethic
B. license
C. law
D. contract
E. venture
________ is the process of quantifying how much one variable’s set of features or
characteristics are possessed in another variable.
A. Reliability
B. Sampling
C. Validity
D. Measurement
E. Coding
In a marketing plan, the ________ section provides a brief overview of the primary
goals, recommendations, and planned actions included in the marketing plan.
A. executive summary
B. company description, purpose, and goals
C. forecasting
D. marketing situation
E. marketing strategy
Refer to the scenario below to answer the following questions.
Herb Marks built his enterprise on the faithful patronage of four specialty shops and a
large contract from Elmore Distributors. But after two years, the maker of novelty pens
and pencils had to rethink his strategy when his two-year contract with Elmore ended.
Herb built a company reputation on the manufacture and distribution of a variety of
wooden writing utensils with customized engravings. Specialty shops loved to display
the products in their fancy, lighted showcases, but such specialty shops alone were not
profitable. Herb Marks established a brand name, known merely as Marks, and decided
to expand on it.
Herb extended his writing utensil lines to include quills, felt-tip pens, and
multiple-cartridge pens that write in different colors. He even added a line of various
grades of personalized stationery and business cards. Perhaps Herb’s biggest added
touch, however, was the addition of two salespeople who would work to explain the
diverse array of products offered by Marks, as well as nurture existing accounts.
“We make an excellent product,” Herb Marks stated, “and we honor a good guarantee
on everything we sell. But let’s face it we face hundreds of competitors! We need
Marks representatives out there to help prospects understand what they should demand
in something as simple as a writing tool.”
The Marks brand was fast becoming synonymous with top-notch customer service. Part
of the purchase package brought personal visits from the Marks representative, before
the purchase and long after.
The new personalized stationery and business cards are both examples of ________.
A. horizontal line extensions
B. vertical line extensions
C. brand extensions
D. multibrands
E. co-branding
________ is an organizational function and a collection of processes designed to plan
for, create, communicate, and deliver value to customers.
A) Selling
B) Advertising
C) Bartering
D) Marketing
E) Negotiating
“Buy it now” is the message of ________.
A. indirect marketing
B. advertising
C. sponsorship
D. sales promotion
E. publicity
You have decided to use only closed-ended questions on your survey. Which of the
following questions would NOT be found on your survey?
A. Do you like chocolate?
B. What is your gender?
C. Do you work full-time or part-time?
D. What do you like about your teacher?
E. In which month do you plant your garden?
You have decided to use only open-ended questions on your survey. Which of the
following questions would NOT be found on your survey?
A. Why is voting important to you?
B. How many cars does your family own?
C. What is your best childhood memory?
D. Which teacher influenced you most? How?
E. What are the most important qualities in a friend?
A buyer’s decisions are influenced by ________ such as the buyer’s age and life stage,
vocation, level of affluence, lifestyle, personality, and self-identity.
A. personal characteristics
B. situational factors
C. perceptions
D. social factors
E. psychological factors
Which of the following strategies would a company be MOST likely to follow for a
product classified as a dog in the BCG matrix?
A. using revenue generated by the product to support question marks
B. reducing financial support of the product
C. making a significant financial investment to take advantage of the market’s potential
D. launching a national marketing campaign to support brand awareness
E. severing the product’s connection to a product in the star or question mark sector
A manager of a Holiday Inn said, “We have power and value in the market and people
are willing to pay for it.” This manager is referring to ________.
A. brand protection
B. brand alliances
C. brand equity
D. line extensions
E. brand extensions
The implementation of marketing practices directed outside the business to create value
and to form productive customer relationships is called ________.
A. internal marketing
B. external marketing
C. relationship marketing
D. social marketing
E. business marketing
Retailers offering ________ require customers to perform their own product selection;
contact between customers and employees typically only takes place when the actual
sale is made.
A. limited-service
B. full-service
C. self-service
D. specialty service
E. wholesale service
CSR stands for ________.
A. consumer social responsibility
B. consumer and society regulations
C. company sustainability regulations
D. corporate sustainability rates
E. corporate social responsibility
________ attempts to answer questions related to practical problems.
A. Syndicated research
B. Secondary data
C. Applied research
D. Pure research
E. Ethnographic research
________ is the organizational commitment to developing and enhancing long-term,
mutually beneficial relationships with profitable or potentially profitable customers.
A. Customer retention
B. Customer lifetime value
C. Customer satisfaction
D. Relationship marketing
E. Reward programming
Which of the following costs is most likely associated with the commercialization stage
of new product development?
A. building or renting a manufacturing facility
B. paying groups of target customers for product feedback
C. determining the product’s planned price, distribution, and marketing budget
D. developing a prototype of the product
E. identifying target markets
In which step in of the sales process would the salesperson call to ensure customer
satisfaction and repeat business?
A. approach
B. sales presentation
C. overcome objections
D. close the sale
E. follow-up
A(n) ________ scale is a measurement in which numbers are assigned to characteristics
of objects to allow comparison of the size of the differences among and between the
objects.
A. nominal
B. graduated
C. ordinal
D. interval
E. ratio
In terms of media habits, the average American spends more time ________ than
________.
A. reading magazines and books; watching television
B. reading newspapers; listening to the radio
C. using the Internet; watching television
D. using the Internet; reading magazines
E. reading newspapers; playing video games
Which of the following has the largest total GDP?
A. China
B. Japan
C. the United States
D. Chile
E. the European Union