The major activity in strategic planning is ________, whereby management evaluates
the products and businesses that make up the company.
A) SWOT analysis
B) benchmarking
C) business portfolio analysis
D) breakeven analysis
E) prospecting
Eric Brown is a human resource manager in a company selling and manufacturing
personal computers. Who among the following is Eric most likely to hire as a
salesperson if his objective is to minimize training costs post recruitment?
A) Samantha, a fresh college graduate
B) Richard, a product developer from a competing firm
C) Nancy, an experienced engineer with no prior experience in personal selling
D) Melissa, a proven salesperson from a competing firm
E) Henry, a young salesperson with a few months’ experience in a large MNC
A long-standing charge against intermediaries is that they mark up prices beyond the
________.
A) value of their services
B) delivery charges
C) going market price
D) promotion cost
E) resale value
Refer to the scenario below to answer the following question(s).
Giant Beanstalks is a company based in Maryland that processes and cans vegetables. It
has contracts with several large farms in Riverdale, 80 miles away from the factory, that
agree to sell their produce to Giant Beanstalks. The company’s products are available to
the public only through Greenleaf, a grocery chain with 38 stores in the country.
Which of the following modes of transport should Roland choose to transport the
unprocessed vegetables from Riverdale’s farms to the Giant Beanstalks’ factory quickly
and with minimum cost?
A) air carrier
B) pipeline
C) truck
D) oil tanks
E) air tunnels
Marketing stimuli include which of the following?
A) economic stimuli
B) price stimuli
C) technological stimuli
D) social stimuli
E) cultural stimuli
Companies emphasizing pollution prevention have responded with ________.
A) superficial green marketing activities
B) internal beyond greening programs
C) external green marketing activities
D) external beyond greening activities
E) internal green marketing programs
Which of the following is true about business purchases?
A) Business purchases involve more professional purchasing effort than consumer
purchases.
B) Business purchases involve fewer participants in decision-making compared to
consumer purchases.
C) Purchasing agents are absent in business purchases.
D) Business purchases involve less technical and economic considerations compared to
consumer purchases.
E) Business purchases are usually quicker and more informal than are consumer
purchases.
FedEx offers its customers fast and reliable package delivery. When FedEx customers
weigh these benefits against the monetary cost of using FedEx along with other costs of
using the service, they are acting upon ________.
A) brand loyalty
B) customer equity
C) customer-perceived value
D) customer lifetime value
E) a societal marketing campaign
________ involves systematically developing networks of supplier-partners to ensure a
dependable supply of products and materials for use in making products or reselling
them to others.
A) Supplier development
B) Business buying
C) Supplier quality assurance
D) Relationship management
E) Executive development
Kraft has adapted its popular Oreo cookie to the unique tastes of consumers all around
the world, whether it’s mango-and-orange flavored Oreos in the Asia Pacific region,
green tea Oreos in China, a chocolate and peanut variety in Indonesia, or banana and
dulce de leche in Argentina. This is an example of ________.
A) product invention
B) straight product extension
C) product adaptation
D) product augmentation
E) communication adaptation
________ consists of creating something new to meet the needs of consumers in a
given country.
A) Communication adaptation
B) Joint venturing
C) Product invention
D) Straight product extension
E) Product adaptation
Effective positioning begins with ________.
A) pricing
B) diversification
C) differentiation
D) promotion
E) segmentation
The selling concept is typically practiced ________.
A) to balance consumers’ wants, company’s requirements, and the society’s long-run
interests
B) with products that offer the most in terms of quality, performance, and innovative
features
C) when the company focuses on building long-term customer relationships
D) with goods that buyers normally do not think of buying
E) by customer-driven companies
A(n) ________ community is a group of nations organized to work toward common
goals in the regulation of international trade.
A) joint venture
B) strategic marketing
C) economic
D) joint-stock
E) multilateral
Many companies use RFID product labels on their goods, which exemplifies the
________ environment in business.
A) natural
B) political
C) economic
D) demographic
E) technological
Which of the following best explains why public relations is often overlooked as a tool
for supporting product marketing objectives?
A) Public relations departments are typically large divisions within corporations.
B) The time and costs associated with public relations prohibit its extensive use.
C) Public relations specialists lack the skills necessary to work with marketing experts.
D) Many public relations professionals see their jobs as communicating not brand
building.
E) The public relations department handles stockholders and legislators but not
employees.
________ are less frequently purchased consumer products and services that customers
compare carefully on suitability, quality, price, and style.
A) Shopping products
B) Convenience products
C) Unsought products
D) Capital items
E) Supplies and repair services
Springfield, a convenience store, has recently begun to redesign and restock its stores to
offer a more upscale environment with products such as house wines and fresh foods.
This information indicates that Springfield has most likely changed its ________.
A) positioning
B) price strategy
C) service level
D) corporate identity
E) organizational structure
Which of the following is the most effective way for a company to ship perishable
goods over long distances, if its key requirement is speed?
A) pipelines
B) air transport
C) trucks
D) water transport
E) trainships
Refer to the scenario below to answer the following question(s).
Giant Beanstalks is a company based in Maryland that processes and cans vegetables. It
has contracts with several large farms in Riverdale, 80 miles away from the factory, that
agree to sell their produce to Giant Beanstalks. The company’s products are available to
the public only through Greenleaf, a grocery chain with 38 stores in the country.
Roland is the logistics manager of Giant Beanstalks. Which of the following is NOT an
area of responsibility for him?
A) the transportation of the canned vegetables to Greenleaf
B) the storage of the unprocessed vegetables
C) the advertising of the final product
D) product inventory management
E) the packaging of the final product
In the ________ stage of the selling process, a company first identifies qualified
potential customers.
A) preapproach
B) follow-up
C) prospecting
D) presentation
E) approach
A ________ VMS integrates successive stages of production and distribution under
single ownership.
A) contractual
B) corporate
C) contingency
D) conventional
E) communal
John has decided to buy a particular smartphone that he saw reviewed online. Which of
the following sources of information has most likely influenced John’s purchase
decision?
A) laggards
B) commercial sources
C) public sources
D) personal sources
E) market mavens
Which term refers to an in-store machine that allows a customer to order merchandise
not carried in the store?
A) kiosk
B) automated teller machine
C) virtual catalog
D) interactive TV
E) direct-response device
Kellogg’s begins to sell its cereals in new markets after conducting extensive marketing
research. After the cereal begins to appear in these new markets, the company increases
its promotion expenditure to counteract competitive responses. Kellogg’s is in the
________ stage of the product life cycle.
A) introduction
B) growth
C) maturity
D) decline
E) adoption