Which of the following statements represents a possible measure of success in Step
1define the problem of the five-step marketing research approach?
a. You have three weeks and $10,000 to determine if it is going to be profitable to serve
breakfast on weekdays or not.
b. If three year olds like this product, then it stands to reason that four-year olds will
like it even more.
c. Use mail questionnaires, not focus groups.
d. Let’s identify the most cost effective method of advertising.
e. If observations show that children like Toy A more than Toy B in terms of hours
spent playing with it, then we will move ahead with making Toy A.
Answer:
Chrysler Corporation wanted to sell its Jeeps in Japan. The car was priced in U.S.
dollars at about $19,000, but when it reached the Japanese car showrooms, its price was
over 31,000 Japanese yen, and the Japanese could not afford to buy it. Its price was set
without regard for the
a. balance of price.
b. currency exchange rate.
c. reciprocity price.
d. balance of payments.
e. equity exchange factor.
Answer:
In a recent analysis, what percentage of “tweets” on Twitter was considered “pointless
babble?”
a. 3%
b. 6%
c. 9%
d. 38%
e. 41%
Answer:
Monster.com is a leading online job-hunting website. A person looking for a new job
does not have to look at every listing on the website. Instead, he or she can type in a job
description and Monster.com will find all the matching jobs plus continue the search
and e-mail any new relevant listings. Monster.com uses ___________ to send its e-mail
updates, which include ads from other businesses.
a. opt-out marketing
b. personalization
c. cookies
d. wikis
e. permission marketing
Answer:
Three frequently used sales forecasting techniques are (1) judgments of the decision
maker; (2) surveys of knowledgeable groups; and (3) __________.
a. heuristic prognostications
b. customer contracts
c. trade association experts
d. statistical methods
e. empirical studies
Answer:
A manufacturing company that introduces a product must know or anticipate what
specific price its __________ currently charge or may charge in the future.
a. present and potential competitors
b. financial institutions
c. suppliers
d. unions
e. regulators
Answer:
Which of the following statements regarding market segmentation is most accurate?
a. Even if a firm finds only one potential market segment, it should take advantage of
the opportunity, no matter what.
b. Market segmentation only works for large corporations because small businesses
don”t have the resources to engage in the process or implement the resulting marketing
actions.
c. Governments should not attempt market segmentation because there is no need for
them to do so.
d. If a business firm goes to the trouble and expense of segmenting its markets, it
expects to increase its sales, profits, and return on investment.
e. Market segmentation strategies work less than 25 percent of the time. However, for
the instances that it does work, the benefits more than compensate for previous failures.
Answer:
Figure 1.
In a recent survey, responding firms reported that on average they used eight metrics to
measure their innovation. Figure 1. above shows that among firms that use more than
three different innovation metrics, they use two different kindsoutput metrics and input
metrics. Which of the following is an output metric?
a. number of ideas or concepts in the pipeline
b. R&D spending as a percentage of sales
c. revenue growth due to new products or services
d. return on assets (ROA) in the pipeline
e. number of R&D projects
Answer:
Penningtons Superstore, which specializes in plus-size fashions for women, wanted to
determine if it should add a line of plus-size junior wear. The following statement
reflects which step in the five-step marketing research approach?: “To compare the
effectiveness of offering products for the teenage market in our current stores versus
opening separate stores targeted directly to this market, let’s distribute questionnaires to
current shoppers and solicit their opinions, set up some focus groups with plus-size
teens, and locate any relevant secondary research.”
a. define the problem
b. develop the research plan
c. collect relevant information
d. develop findings and recommendations
e. take marketing actions
Answer:
Dumping refers to
a. illegally disposing of unusable or damaged goods to avoid paying removal fees
and/or taxes.
b. when a firm sells damaged or unsalable goods below their original production cost.
c. when a firm sells quality goods at significantly lower prices for the primary purpose
of reducing inventory to make room for seasonal goods.
d. when a firm sells quality goods at significantly lower prices for the primary purpose
of reducing inventory to make room for newer or more expensive models.
e. when a firm sells a product in a foreign country below its domestic price or below its
actual cost.
Answer:
The Nielsen Company recently introduced a new measurement program dubbed the
__________ (A2/M2) Initiative to “follow the video” of 21st century viewers.
a. Anytime Anywhere Media Measurement
b. Anytime Anyone Media Measurement
c. Anyplace Anyone Media Measurement
d. Anytime Anywhere Micro Measurement
e. Anytime Anyone Metropolitan Measurement
Answer:
Figure 1.
According to Figure 1. above, friendship is an example of a __________ need.
a. self-actualization
b. personal
c. social
d. safety
e. physiological
Answer:
Figure 1.
Figure 1. above depicts the four most common marketing channels for consumer
products and services. “Y” represents
a. consumers.
b. industrial users.
c. wholesalers.
d. agents or brokers.
e. retailers.
Answer:
Brand equity is the added value a brand name gives to a product beyond the functional
benefits provided. This value has two distinct advantages: (1) it creates a competitive
advantage and (2) __________.
a. it guarantees the lowest prices
b. decision making becomes easier for consumers
c. there is no need for coupons, discounts, or other customer incentives
d. customers are often willing to pay a higher price
e. new market segments are easily added to the market-product grid
Answer:
Callaway markets its products through on- and off-course golf retailers and sporting
goods retailers, and also has its own online store, which makes it a full-fledged
a. cross channel marketer.
b. multichannel marketer.
c. industrial marketer.
d. direct marketer.
e. merchant marketer.
Answer:
Figure 1.
According to Figure 1. above, shelter is an example of a __________ need.
a. self-actualization
b. personal
c. social
d. safety
e. physiological
Answer:
Suppose you are designing a marketing website and you would like it to be as
user-friendly as possible. In particular, you do not want repeat customers to have to
enter their address, e-mail, telephone number, and credit card data every time they make
an online purchase. Rather, you would like your website to recognize each customer by
name every time he or she visits the website and to retrieve all the information about
that customer automatically whenever he or she wishes to make a purchase. To achieve
this goal, you would most likely use __________.
a. cookies
b. portals
c. spam
d. spiders
e. bots
Answer:
The World Wide Fund for Nature ad shown above is an example of which type of
appeal?
a. reminder
b. fear
c. sex
d. advocacy
e. guilt
Answer:
The website that enables users to send and receive messages up to 140 characters long
is
a. LinkedIn.
b. YouTube.
c. Twitter.
d. Facebook.
e. Friendster.
Answer:
The number of Page views divided by visitors in a given time period is referred to as
a. daily page views.
b. the average page views per visitor.
c. website visitors per day.
d. the website view rate.
e. the interaction rate.
Answer:
One of the advantages of social media is that communities can form around ideas,
interests, and commonalities regardless of the physical location of their members. The
best way to use this advantage to market a product is to
a. identify the niche audience of consumers to target and choose the appropriate social
network to reach this audience.
b. use Facebook to reach the niche audience of consumers because it is the largest, most
popular social network.
c. use Twitter to create a buzz in the niche audience of consumers to target and get them
“tweeting.”
d. identify consumers in the niche audience who are “passive receivers.”
e. create a YouTube video because it is the highest in “media richness” and will capture
the attention of the niche audience.
Answer:
In the VALS framework, consumers with the least resources of any segment represent a
modest market for most products and services, are loyal to favorite brands, especially if
they can be purchased at a discount, and are referred to as __________.
a. Strivers
b. Believers
c. Survivors
d. Makers
e. Thinkers
Answer:
If the cash discount terms for a $500 purchase are 4/10 net 30, the number 4 refers to
a. the percentage markup on the product.
b. the percentage discount if the bill is paid within 10 days.
c. the percentage increase in price if the bill is not paid within 10 days.
d. the discount in dollars per unit if the order is paid on time in 30 days.
e. the penalty in dollars if the bill is not paid within 10 days.
Answer:
Huggies Photo
Consider the Huggies photo above. Equity in the Huggies family brand name has
allowed Kimberley-Clark to successfully use __________ to leverage the strong
Huggies brand equity among mothers when it introduced a full line of baby and toddler
toiletries.
a. product line branding
b. subbranding
c. multiproduct branding
d. mixed branding
e. brand extensions
Answer:
According to recent research, _________ consumers are most likely to respond to
mobile marketing programs.
a. baby boomers
b. baby busters
c. baby boomlets
d. Generation Y
e. Generation X
Answer:
Figure 1.
According to Figure 1. above, points “A” and “D” would most likely be __________
and __________ respectively.
a. joint venture; licensing
b. licensing; exporting
c. licensing; joint venture
d. direct investment; licensing
e. exporting; direct investment
Answer:
In choosing the appropriate marketing channel, a firm should consider the interests that
buyers might want fulfilled. These interests fall into four broad categories: (1)
information; (2) convenience; (3) __________; and (4) pre- or postsale services.
a. availability
b. quality
c. variety
d. brand name recognition
e. adaptability
Answer:
Which of the following is the best approach to promotion budgeting?
a. objective and task budgeting
b. percentage of sales budgeting
c. competitive parity budgeting
d. all-you-can-afford budgeting
e. linear forecast budgeting
Answer:
Those in favor of protectionism advocate that protectionism
a. helps reduce tariffs and quotas.
b. encourages the development of domestic industries.
c. encourages economic reliance on foreign countries.
d. creates opportunities for the outsourcing of domestic jobs.
e. creates a more favorable environment for a global economy.
Answer:
Recently, a project team for Cosco, the world’s largest children’s products company,
developed a high chair that could be used as an infant feeding seat, a youth chair, a play
chair, a booster chair, and when reclined, an infant bed. Its design could be made and
sold for $49. Cosco rushed the chair into production to beat its competition before it
was properly safety-tested. When some children were injured as a result of this chair,
Cosco denied culpability. The firm said that only a few consumers had had any trouble
with the chairand probably didn’t assemble them correctly. Most consumers, however,
were very satisfied with the chair and had no problems with it. Cosco’s actions
exemplify which of the following philosophies?
a. existentialism
b. moral idealism
c. communism
d. socialism
e. utilitarianism
Answer:
The way that a person navigates through an online marketer’s website is called
a. surf-shopping behavior.
b. cross-channel shopping.
c. the clickstream.
d. 1-click shopping.
e. the shopper pathway.
Answer: