If a fraternity or sorority wanted to attract new members, it should focus on people who
view its current members as a(n) __________ group.
a. membership
b. aspiration
c. dissociative
d. reference
e. involvement
Answer:
Once a market researcher has defined the problem, developed the research plan, and
collected the relevant information, what is the next step in the five-step marketing
research approach?
a. set budgets
b. determine target market
c. take marketing actions
d. develop findings
e. determine if there is a planning gap between desired findings and actual findings
Answer:
The system that provides common industry definitions for Canada, Mexico, and the
United States, which makes it easier to measure economic activity in the three member
countries of the North American Free Trade Agreement (NAFTA), is referred to as the
a. Standard Industrial Code System (SICS).
b. United Nations Central Product Classification System (UNCPCS).
c. Free Trade Classification System (FTCS).
d. North American Industry Classification System (NAICS).
e. Federal System of International Organizations (FSIO).
Answer:
The formula, Total revenue − Total cost, or [(Unit price Quantity sold) − (Fixed cost +
Variable cost)] represents __________.
a. the value equation
b. the sales ratio
c. average revenue
d. the break-even point
e. the profit equation
Answer:
The fourth step in segmenting and targeting markets that link customer needs to
marketing actions is to __________.
a. group potential buyers into segments
b. select target markets
c. group products to be sold into categories
d. develop a market-product grid and estimate size of the overall market
e. take marketing actions to reach target markets
Answer:
When developing a new breakfast menu, Wendy’s had to consider not only the offerings
of Burger King and McDonald’s but also the
a. monthly breakfast specials from IHOP and Perkins.
b. dormitory breakfast meal plans at surrounding colleges and universities.
c. quick-serve breakfast items from gas stations and convenience stores.
d. local farmer’s market that serves a hot breakfast buffet.
e. breakfast cereals sold at local grocery stores.
Answer:
A reduction from the list price that a seller gives a buyer as a reward for some activity
of the buyer that is favorable to the seller is called
a. the pretax price.
b. the list price.
c. the manufacturer’s suggested retail price (MSRP).
d. a discount.
e. a trade-in allowance.
Answer:
A financial indicator used to compare the increase in sales of stores that have been open
for the same period of time is __________.
a. return in investment
b. percentage of markup
c. gross profit
d. sales per square foot
e. same-store sales growth
Answer:
Until 1996, U.S. carmakers sent very few right-hand-drive cars to Japan while German
car makers exported several models with the steering wheel on the right to
accommodate the way the Japanese drive their cars on the left side of the road.
American car manufacturers could blame their failure to a great degree on
a. an insignificant point of difference.
b. too little market attractiveness.
c. not satisfying customer needs on critical factors.
d. poor product quality.
e. incomplete market and product protocol.
Answer:
In terms of distribution, when marketing channel members are engaged in financing,
grading, and marketing information and research, they are performing the __________
function.
a. logistical
b. transformational
c. implementing
d. facilitating
e. transactional
Answer:
The European Union passed a consumer privacy law, called the _________, after
several years of discussion with the Federation of European Direct Marketing and the
U.K.’s Direct Marketing Association.
a. Personal Identity Law
b. Intellectual Property Act
c. Data Protection Directive
d. Credit Protection Act
e. Shared Information Act
Answer:
Which of the following statements regarding the place element of services is MOST
accurate?
a. Place has little impact on the marketing of services because there are so many
intermediaries from which a consumer may choose.
b. The distribution site and the service provider are the intangible components of the
service.
c. Place is especially important factor because of the inconstancy between the service
and the service provider.
d. Until recently, customers generally had to go to the service provider’s physical
location to purchase the service.
e. Technology is an effective way to bring services to the customer, but only if the
consumer is a new user; otherwise, the disadvantages outweigh the benefits.
Answer:
A multidomestic marketing strategy refers to
a. the strategy of transnational firms that employ the practice of standardizing
marketing activities when there are cultural similarities and adapting them when
cultures differ.
b. the strategy used by firms that use the same product variations, brand names, and
advertising programs for every country in which they do business.
c. the strategy used by firms that have as many different product variations, brand
names, and advertising programs as countries in which they do business.
d. the strategy of seeking out already established firms in other nations and selling them
the rights to manufacture and distribute the firm’s products through the host nation’s
established infrastructure.
e. the strategy currently used by most U.S. domestic firms that when entering a new
international market, these firms offer only those products that require the least amount
of product adaptation or consumer education.
Answer:
The largest online consumer lifestyle segment is referred to as “__________.”
a. hunter-gatherers
b. click-and-mortar
c. brand loyalists
d. hooked, online, and single
e. time-sensitive materialists
Answer:
The eight-second rule refers to the view that
a. if a website doesn”t attract a consumer’s attention in the first eight seconds, the
consumer will move on to a different site.
b. customers will abandon their efforts to enter and navigate a website if download time
exceeds eight seconds.
c. any online purchase should take no more than eight seconds to complete.
d. hunter-gatherers will not wait longer than eight seconds for a response in a chat
room.
e. more than 50 percent of online consumers will spend less than eight seconds at a
portal.
Answer:
Which type of outlet is most likely in its accelerated development stage of the retail life
cycle?
a. single-price stores
b. online retailers
c. supermarkets
d. business-district retailers
e. convenience stores
Answer:
The Philadelphia Phillies are marketing what “product?”
a. a baseball game
b. popular players
c. a fun experience
d. a winning team
e. competitive spirit
Answer:
Figure 1.A
According to Figure 1.A above, which of the following media alternatives has the
largest amount of advertising expenditures?
a. newspapers
b. television
c. direct mail
d. Internet
e. magazines
Answer:
What is the marketing objective for the decline stage of the product life cycle?
a. harvesting
b. profit
c. stress differentiation
d. gain awareness
e. maintain brand loyalty
Answer:
In the movie Tin Men, two rival salesmen engaged in a variety of dishonest and
unethical practices in order to sell aluminum siding to homeowners in 1963. Their job
was difficult, in part, because the supply of aluminum siding surpassed the demand for
the product and competition was intense. This situation is indicative of the __________
era of U.S. business history.
a. goods
b. sales
c. production
d. market orientation
e. societal marketing
Answer:
Consumer socialization refers to
a. the distinct phases that a family progresses through from formation to retirement,
each phase bringing with it identifiable purchasing behaviors.
b. the people to whom an individual looks as a basis for self-appraisal or as a source of
personal standards.
c. the process by which people acquire the skills, knowledge, and attitudes necessary to
function as consumers.
d. the modes of living that are identified by how people spend their time and resources,
what they consider important in their environment, and what they think of themselves
and the world around them.
e. the relatively permanent, homogeneous divisions in a society into which people
sharing similar values, interests, and behavior can be grouped.
Answer:
Online content created by an individual outside of a professional organization without a
commercial market in mind is a criterion of
a. online advertisements.
b. user generated content (UGC).
c. blogs.
d. wikis.
e. YouTube.
Answer:
A concept test is an
a. internal evaluation among members of the entire cross-functional new-product
development team that consists of preliminary testing of a new-product idea rather than
the actual product.
b. external evaluation with consumers that consists of preliminary testing of a
new-product idea rather than the actual product.
c. internal evaluation that consists of preliminary testing of a new-product idea using a
mock-up or prototype of the new item.
d. in-house computer simulation of the new product that closely resembles the actual
product to forecast sales.
e. in-depth questionnaire filled out both by internal marketing personnel and external
customers to ensure that the final product meets all the needs expressed in the original
product plan.
Answer:
A form of click fraud is called “PTR,” which is an acronym for
a. Paid-to-Read.
b. Ping-to-Read.
c. Profit-to-Read.
d. Place-to-Read
e. Priced-to-Read.
Answer:
Emily wants to purchase a new computer. She is unsure about what hardware and
software she will need. As a result, she has begun asking for advice from friends and
relatives. In addition, she has talked to several computer salespeople at Apple and Best
Buy and has looked at some websites. Emily is engaging in
a. problem recognition.
b. an internal search.
c. an external search.
d. a purchase task.
e. the creation of an antecedent state.
Answer:
Spam refers to
a. communications that take the form of electronic junk mail or unsolicited e-mail.
b. sensitive public access materials.
c. computer-generated e-mails that are self-directed and self-perpetuating.
d. unsolicited computer-generated messages whose sole purpose is to block a consumer
from accessing competitors’ websites.
e. any non-personal electronically generated message sent via the Internet.
Answer:
Which of the following is NOT an example of an industry?
a. the computer industry
b. the automobile industry
c. the railroad industry
d. the government industry
e. the publishing industry
Answer:
The two main types of data are
a. independent and dependent.
b. primary and secondary.
c. comprehension and case specific.
d. extraneous and experimental.
e. measurable and non-measurable.
Answer:
Mrs. Renfro’s, Inc., is a company that sells 25 different relishes in 45 different states.
Mrs. Renfro’s chipotle corn salsa is so popular that the company cannot make enough to
keep its resellers stocked. Its price of $4.50 for a jar seems just right to consumers who
savor its hot and spicy taste. The popularity of hot and spicy food is an example of a
__________ that Mrs. Renfro’s has taken advantage of to make its product a success.
a. barter factor
b. demand factor
c. supply factor
d. consumer index
e. macroeconomic environmental factor
Answer:
Although research shows consumers are sensitive to ecological issues, they may not be
willing to purchase a given product or service solely on the basis of its environmental
claims. They may (1) be unwilling to sacrifice convenience and pay higher prices to
protect the environment, and (2)
a. be unable to make an ecologically sound purchase because eco-friendly products are
significantly less expensive, indicating that they are of lesser quality.
b. lack the knowledge to make informed decisions dealing with the purchase, use, and
disposition of products.
c. believe that protecting the environment in one area actually can create disruptions in
another areas.
d. believe that ecological issues are still a matter of opinion even within the scientific
community itself.
e. believe that public sentiment toward ecological issues has now reached a consensusin
today’s economic downturn, jobs are more important than environmental issues.
Answer:
When 3M launched its premium Greptile Grip golf glove consisting of the highest
quality Cabretta sheep leather, it suggested a retail price range of $16.95 to $19.95. Golf
glove marketer Bionic had introduced its Classic at $24.95 and its Pro at $39.95, while
FootJoy launched its Pure Touch Limited at $28.00 and its SciFlex at $18.00. Other
competitors focused on price/value at three price points: $6.00-$9.99, $10.00-$16.99,
and $17.00 and up. These statements suggest that 3M has been pursuing a __________
method of selecting an approximate price level.
a. competition-based
b. profit-oriented
c. cost-oriented
d. demand-oriented
e. experience-oriented
Answer:
Fran Wilson Creative Cosmetics attributes its success to a top-quality product, effective
advertising, and a novel __________ program.
a. joint venture
b. cooperative agreement
c. franchise operation
d. export marketing
e. direct investment
Answer: