A management approach in which a manger is assigned the responsibility for selecting
all products that consumers in a market segment might view as substitutes for each
other, with the objective of maximizing sales and profits in the category, is referred to
as __________.
a. capacity management
b. product management
c. retail inventory management
d. category management
e. automated inventory control
Answer:
An advertising agency that deals in creative work and is compensated by a contractual
agreement for the services performed is referred to as _________.
a. full-service agencies
b. in-house agencies
c. modified-service agencies
d. limited-service agencies
e. promotional firms
Answer:
Business firms pursue several different types of goals. When a firm recognizes the
critical importance of its employees, this is an __________ goal.
a. employee satisfaction
b. employee responsibility
c. employee compensation
d. employee core value
e. employee welfare
Answer:
Based on a market-product grid framework, which marketing strategy focuses on a
single market segment but adds additional product lines?
a. full coverage
b. market specialization
c. product specialization
d. selective specialization
e. market-product concentration
Answer:
A marketing __________ is defined as the means by which a marketing goal is to be
achieved, usually characterized by a specified target market and a marketing program to
reach it.
a. plan
b. tactic
c. strategy
d. concept
e. action
Answer:
A filtering of exposure, comprehension, and retention is called __________.
a. selective attention
b. selective perception
c. selective intuition
d. selective retention
e. stimulus discrimination
Answer:
Interactive marketing refers to
a. the two-way buyer-seller electronic communication in a computer-mediated
environment in which the buyer controls the kind and amount of information received
from the seller.
b. the two-way buyer-seller electronic communication in a computer-mediated
environment in which the seller controls the kind and amount of information received
from the buyer.
c. the interactive, Internet-enabled system that allows individual customers to design
their own products and services by answering a few questions and choosing from a
menu of product or service attributes, prices, and delivery options.
d. the consumer-initiated practice of generating content on a marketer’s website that is
custom-tailored to an individual’s specific needs and preferences.
e. an Internet-enabled digital environment characterized by face-to-screen exchange
relationships and electronic images and offerings.
Answer:
A set of values, ideas, attitudes, and norms of behavior that is learned and shared among
the members of an organization is referred to as its ___________.
a. mission statement
b. core value proposition
c. corporate philosophy
d. core benefit proposition
e. organizational culture
Answer:
Two laws specifically intended to curb economic espionage and bribery in international
marketing are
a. Economic Espionage Act and Foreign Corrupt Practices Act.
b. Transparency International Act and Dumpster Diving Act.
c. Global Rights Protection Act and Foreign Corrupt Practices Act.
d. Consumer Bill of Rights Act and Economic Espionage Act.
e. Fair Trade Practices Act and Bribery Protection Act.
Answer:
All of the following are shortcomings of advertising EXCEPT:
a. compensating actors is very expensive.
b. shooting commercials in several locations for global campaigns has increased.
c. replacing actors with computer-generated animation is ineffective since the actors are
better able to translate a copywriter’s message into fear, sex, or humorous appeal ads
d. designing quality artwork, layout, and production for advertisements is time
consuming.
e. translating the copywriter’s ideas into an actual advertisement is a complex process.
Answer:
Which list below presents the hierarchy of needs in its correct order, beginning with the
lowest level need to the highest level need?
a. personal, social, physiological, psychological, and safety
b. physiological, safety, social, personal, and self-actualization
c. safety, physiological, safety, self-actualization, and personal
d. self-actualization, personal, social, safety, and physiological
e. safety, personal, self-actualization, physiological, and social
Answer:
In the VALS framework, consumers who are receptive to new ideas and technologies
and like variety in their lives are referred to as __________.
a. Experiencers
b. Makers
c. Achievers
d. Innovators
e. Strivers
Answer:
An order taker refers to a __________.
a. salesperson who specializes in identifying, analyzing, and solving customer
problems, but who does not actually sell products and services
b. salesperson who processes routine orders or reorders for products that were already
sold by the company
c. salesperson who identifies prospective customers, provides them with information,
persuades them to buy, closes sales, and follows up on their use of a product or service
d. person on the selling team who is responsible for obtaining qualified leads
e. member of the sales support team who does not directly solicit orders but rather
concentrates on performing promotional activities and introducing new products
Answer:
In a marketing context, a market refers to
a. people with a similar want for a particular product or service.
b. people with both the desire and ability to buy a specific offering.
c. the central location for all buying and selling of products and services.
d. an open space or covered building where vendors convene to sell their offerings.
e. the free the operation of supply and demand.
Answer:
A markup refers to
a. the difference between the final selling price and how the customer values the
product.
b. selling brand name merchandise at lower than regular prices.
c. the amount added to the cost the retailer paid for a product to reach the final selling
price.
d. the difference between the retail cost and initial selling price.
e. the reduction in retail price, usually expressed as a percentage equal to the amount
reduced, divided by the original price, and multiplied by 100.
Answer:
Competitive advertisements that show the relative strength of one brand over another
are referred to as __________ advertisements.
a. advocacy
b. competitive
c. reminder
d. comparative
e. differentiation
Answer:
Market share is the ratio of the __________to those of the industry, including the firm
itself.
a. target return on sales
b. marginal profit of the firm
c. firm’s sales revenues or unit sales
d. marketing expenses of the firm
e. profits of the firm
Answer:
When Bebe, a contemporary women’s clothing store, uses evocative imagery in its
advertising, it is using which type of advertising appeal?
a. reminder
b. fear
c. sex
d. guilt
e. self-esteem
Answer:
Pizza Hut’s young adult males seek more of the food they love with __________ in the
process.
a. nutritional value
b. a hassle-free eating experience
c. a great social experience
d. less time and cash invested
e. friendly environment
Answer:
What is the marketing term for people, whether they are 80 years or 8 months old, who
use products and services purchased for a household?
a. ultimate consumers
b. situational buyers
c. primary buyers
d. a target market
e. household prospects
Answer:
Consumers’ ability to perceive taste differences in chocolate bars is an example of
a. cognitive dissonance.
b. stimulus discrimination.
c. selective retention.
d. selective comprehension.
e. stimulus generalization.
Answer:
Which of the following is considered a service?
a. silverware
b. washing machine
c. chewing gum
d. a marketing class
e. freedom
Answer:
A share point refers to
a. the ratio of sales revenue of the firm to the total sales revenue of all firms in the
industry, including the firm itself.
b. the percentage points of market share, used in analysis as the common basis of
comparison to allocate marketing resources effectively for different product lines within
the same firm.
c. the sales revenue generated by different products within the firm expressed as a
percentage.
d. a measure of the quantitative value or trend of a marketing activity or result divided
by the total marketing effort of the firm.
e. the total number of a product sold in one year compared to the cumulative total sold
since its introduction, expressed as a percentage.
Answer:
Tim Marlow, the owner of The Clock Works, wanted to know how many clocks he must
sell in order to cover his fixed cost at a given price. Tim knew that he had a fixed cost
of $20,000 for equipment, taxes, and a bank loan. He also had a unit variable cost of
$20 per clock for labor and materials. If the price Tim charges for each of his clocks is
$40, what is his break-even point quantity?
a. 100 clocks
b. 334 clocks
c. 500 clocks
d. 1,000 clocks
e. 10,000 clocks
Answer:
The strategies an organization develops to provide value to the customers it serves is
called a(n)
a. mission statement.
b. objective goal.
c. vision statement.
d. business model.
e. protocol.
Answer:
A key to positioning a product or brand effectively is discovering the perceptions of its
potential customers. In determining its positioning in the minds of customers,
companies take four steps: (1) identify the important attributes for the product or brand
class; (2) discover how target customers rate competing products or brands with respect
to these attributes; (3) ___________; and (4) reposition the company’s product or brand
in the minds of potential customers.
a. decide whether to keep or delete the market segment that your product offering
targets
b. identify the competitors’ brands that make up the consideration set
c. create a marketing plan based on customers’ perceptions
d. identify market niches that were not previously selected during the market
segmentation process
e. discover where the company’s product or brand is on these attributes in the minds of
potential customers
Answer:
Four trends in the past decade have significantly influenced the landscape of global
marketing. One of them is:
a. an increase in economic protectionism and a decline free trade.
b. a more aggressive attitude towards initiating international tariffs and quota systems.
c. a decrease in most countries’ GDPs and a renewal of nationalism.
d. emergence of networked global marketspace.
e. an increase in most countries’ GDPs coupled with an increased degree of consumer
ethnocentrism.
Answer:
Many changes influenced the opportunities for global sales of Breathe Right strips. One
of these is:
a. an increase in pollution resulting in a larger number of people suffering from
allergies, who would benefit from the product.
b. a heightened interest in products considered to be “quick fixes.”
c. a distrust of the formal medical community and a desire for self-healing alternatives.
d. an expansion of the pharmacist role from that of medical professional to selling and
marketing OTC products.
e. a desire to avoid invasive procedures or medications.
Answer:
Recently, the number of people who attended music concerts, plays, and other live
entertainment increased because they had the __________ to enjoy these activities.
a. gross income
b. bonus income
c. profit
d. disposable income
e. discretionary income
Answer:
A disadvantage of the North American Industry Classification System (NAICS) systems
is that
a. it only lists the top ten firms in any particular industry.
b. it is too difficult and confusing to read.
c. it only covers organizations with sales in excess of (US) $1 million.
d. it makes it possible to find how the firm’s customers are coded.
e. five-digit national industry codes are not always available for all three countries.
Answer: