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When buying clothes, consumers may shop at several stores and compare a number of
different brands and styles before purchasing an item without resorting to a complex
analysis of the pros and cons of each brand and style. Identify the type of decision
making involved.
A. Extensive decision making
B. Limited decision making
C. Routine decision making
D. Optional decision making
Answer:
Which of the following is a demographic factor that should be considered in the initial
selection of a target market?
A. The number of potential buyers
B. The perishability of the product
C. Customers' needs for prestige and status
D. Customers' reactions to odd pricing
Answer:
Which of the following is true of exporting?
A. Exporting is the least common strategic approach for a company making its first
foray into the international marketplace.
B. Exporting involves the cost of establishing manufacturing operations in the host
country.
C. Exporting firms are not required to pay import duties or face trade barriers.
D. Exporting helps a firm achieve experience-curve and location economies.
Answer:
A company targets a new variant of tea that has a higher content of antioxidants at
consumers who are health conscious and want organic food products by retailing them
in stores that exclusively sell organic foods. This is an example of a(n) _____
segmentation approach.
A. a priori
B. a posteriori
C. post hoc
D. de facto
Answer:
Which of the following is true of selecting media in foreign markets?
A. All countries have severe restrictions on the use broadcast media for advertisements.
B. Media that are traditionally used in the domestic market may not be available in
foreign markets.
C. Where data is available, their accuracy is always conclusive.
D. If media are available, they are able to reach all potential buyers.
Answer:
Lack of obsolescence in service firms has largely led to:
A. failure to recognize the need for change.
B. providing services to limited groups of employees.
C. marketing services only through branches.
D. lack of a technology drive.
Answer:
Which of the following statements about vendor analysis is true?
A. Vendor analysis can be done both before and after purchases to compare
performance on evaluation criteria and evaluate the process of vendor selection.
B. A vendor analysis is often ineffective since it makes the purchasing process
extremely complex.
C. Organizational buyers primarily use a vendor analysis to evaluate possible marketers
of the organization's products.
D. Vendor analysis should be done only during the postpurchase evaluation stage of the
organizational buying process.
Answer:
In which of the following stages of the product life cycle are promotion efforts
minimal?
A. The introduction stage
B. The decline stage
C. The maturity stage
D. The growth stage
Answer:
A computer manufacturer is producing a one-of-a-kind innovation called Innovel, a
cloud computing software that helps to navigate Internet content. While making the
channel decision and finalizing the distribution arrangement, the manufacturer is keen
on limiting the distribution of Innovel and gives only Techaven Inc. the rights to sell
Innovel in that region. Techaven is known for its unique facilities and specialized
inventories. In this case, the manufacturer is using the _____ arrangement of
distribution.
A. selective
B. restrictive
C. exclusive
D. intensive
Answer:
The Bedford Hotel is an industry leader in the hospitality and customer service sector.
After Templeton Hotel measured its services against Bedford Hotel, it instituted a
customer service campaign called "proactive hospitality." Templeton managers examine
monthly reports for problem areas and the Bedford model is used to determine ways to
address and resolve these issues. Which of the following methods is used by Templeton
to identify improvement areas?
A. Test marketing
B. Benchmarking
C. Niche marketing
D. Market segmenting
Answer:
The administrative department of Newell Inc. has been routinely purchasing stationery
and miscellaneous office supplies from its supplier, Accent services, for eight years. In
order to save time, the company has an automated computer system that automatically
reorders certain commonly used supplies as and when they are depleted. This
organizational buying of Newell Inc. typically exemplifies a _____.
A. straight rebuy
B. modified purchase
C. new task purchase
D. modified rebuy
Answer:
Dawson & Peters' new line of leather boots are marketed as the hottest fashion trend of
the season. The company puts up posters on billboards that featured several celebrities
wearing the boots. The concept of the television ads was how wearing the boots could
make you the envy of all those around you. According to the VALSâ„¢ framework,
which of the following psychographic groups is Dawson & Peters targeting?
A. Survivors
B. Strivers
C. Thinkers
D. Makers
Answer:
A cross-functional team responsible for the creation of its company's marketing plan
had to make adjustments to the marketing plan since the plan failed to meet the
determined objectives. This implies that the cross-functional team is:
A. controlling the marketing plan.
B. redefining the organizational mission.
C. implementing the marketing plan.
D. altering the organizational portfolio plan.
Answer:
A corporate vertical marketing system is exemplified by:
A. a florist shop that buys from a wholesale plant nursery.
B. a coffee producer who owns one of his regular retailers.
C. the relationship of an independent retail giant with its suppliers.
D. the franchise system of a popular apparel store.
Answer:
Organizations that are highly _____ are less likely to have joint decision-making.
A. democratic
B. cost-centered
C. centralized
D. profitable
Answer:
Which of the following types of research involves the application of econometric or
statistical techniques to secondary data, such as scanner data collected and stored in
computer files from retail checkout counters?
A. Focus groups research
B. Observational research
C. Mathematical modeling
D. Qualitative research
Answer:
