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Press conferences, speeches, store openings, special events, newsletters, and store
magazines are examples of ________ activities used by retailers to promote themselves.
A) public relations
B) sales promotions
C) personal selling
D) affinity marketing
E) social marketing
Answer:
Most of the market is in the hands of the ________, the firm with the largest market
share.
A) market challenger
B) market follower
C) market leader
D) market nicher
E) market maven
Answer:
From a market point of view, Universal Pictures film studio might see its competition as
________.
A) Paramount Pictures
B) Warner Bros. Pictures
C) Walt Disney Pictures
D) 20th Century Fox
E) Broadway
Answer:
Which of the following types of research would be best suited for understanding the
attitudes of consumers who buy a particular brand of soft drink?
A) internal research
B) descriptive research
C) causal research
D) exploratory research
E) demographic research
Answer:
Conflict that occurs between different levels of the same marketing channel is known as
________ conflict.
A) horizontal
B) vertical
C) multitiered
D) equilateral
E) communal
Answer:
The overselling of private goods results in ________.
A) cultural pollution
B) misdirected funding
C) social costs
D) materialism
E) opportunity expenses
Answer:
Green Bees, a popular American heavy-metal band, will perform in Berlin during
Christmas. There is a high demand for concert tickets among fans worldwide who are
looking forward to the much-awaited performance. In this instance, the high demand
for tickets for the Green Bees concert is representative of ________ demand.
A) primary
B) negative
C) derived
D) elastic
E) business
Answer:
If a company's offer delivers greater value by exceeding the competitor's offer on
important attributes, the company can charge a higher price and ________, or it can
charge the same price and ________.
A) earn lower profits; gain higher profits
B) earn higher profits; lose profits
C) earn higher profits; gain more market share
D) lose profits; gain more market share
E) lose profits; gain higher profits
Answer:
More and more companies are moving away from high-commission plans because
________.
A) outside salespeople tend to undermine the efforts of the inside sales team
B) high-commission plans require salespeople to work overtime
C) salespeople tend to become pushy which affects customer relationships
D) salespeople are prone to taking multiple sales jobs to maximize their income
E) salespeople end up spending too much time traveling to meet customers
Answer:
________ pricing refers to offering just the right combination of quality and gratifying
service at a fair price.
A) Markup
B) Good-value
C) Cost-plus
D) Target profit
E) Break-even
Answer:
________ refers to buying a packaged solution to a problem from a single seller, thus
avoiding all the separate decisions involved in a complex buying situation.
A) Systems selling
B) Performance review
C) Problem recognition
D) Proposal solicitation
E) General need specification
Answer:
Federal legislation on price fixing requires that sellers set their prices ________.
A) based on their fixed and variable costs
B) without communication from competitors
C) to achieve a specific profit margin
D) without the intention of cutting into competitors' profits
E) consistently throughout a region
Answer:
The United States and Norway are examples of ________ economies.
A) subsistence
B) industrializing
C) emerging
D) industrial
E) raw material exporting
Answer:
Mary Adams is helping her company develop a marketing program for a new product
line. The program is designed to appeal most to less materialistic consumer groups who
are likely to prize experience, not acquisition. The marketing program is most likely
designed to appeal to which of the following demographic groups?
A) Generation X
B) Millennials
C) Echo Boomers
D) Silent Generation
E) Lost Generation
Answer:
Under ________, the market consists of many buyers and sellers trading in a uniform
commodity.
A) pure competition
B) monopolistic competition
C) oligopolistic competition
D) a pure monopoly
E) the dominant firm model
Answer:
Acquisition refers to ________.
A) the buying of a whole company, a patent, or a license to produce someone else's
product
B) an agreement between two or more commercial companies to produce a common
product
C) a partnership between two companies to produce a product in different countries by
sharing risks
D) investments made in a country's businesses by foreign citizens, often in the form of
stocks
E) the development of original products, product improvements, product modifications,
and new brands through the firm's own product development strategies
Answer:
The set of marketing tools a firm uses to implement its marketing strategy is called the
________.
A) promotion mix
B) product mix
C) marketing mix
D) market offering
E) marketing effort
Answer:
Companies must attract visitors to their Web sites. Which of the following is a method
companies use to entice visitors not just to visit but also to return to a site?
A) using flashy graphics, bright colors and vivid pictures
B) aggressively promoting the site in offline print and broadcast advertising
C) offering prizes for visiting the site
D) providing rewards for visitors connecting their friends to the site
E) requiring registration on the first visit to the site
Answer:
Brad works with a reputed retailer and leads a team that collects market information
from a wide variety of sources ranging from marketing research studies to monitoring
online conversations where consumers discuss Brad's firm or its products. Brad's team
uses this information to arrive at a better understanding of consumer behavior and their
buying motives. This, in turn, allows Brad's firm to successfully generate more value
for consumers. Brad leads the ________ team.
A) product development
B) strategy implementation
C) human resource
D) customer relationship management
E) customer insights
Answer:
McDonald's "Plan to Win" strategy has added healthy food options to its menu, phased
out traditional artery-clogging trans fats, launched a major multifaceted education
campaign, and addressed environmental issues. "Plan to Win" best exemplifies the
________ concept.
A) sustainable marketing
B) direct marketing
C) mercantilism
D) strategic planning
E) consumer business
Answer:
It is most accurate to say that when customers purchase products they act on ________
as they judge values and costs.
A) objective value
B) perceived value
C) customer lifetime value
D) company image
E) society's interests
Answer:
Hart's Department Store was accused of deceptive promotion. Which of the following
best explains what might have happened?
A) Hart's refused to advertise sale prices in the local paper.
B) Hart's advertised a bargain price on an out-of-stock product.
C) Hart's advertised a large price reduction from a phony high retail list price.
D) Hart's used misleading labeling on certain products.
E) Hart's exaggerated its package contents through subtle design.
Answer:
Fifty percent of the market is in the hands of Company A, 30 percent is in the hands of
Company B, 15 percent is in the hands of Company C, and the remaining 5 percent is in
the hands of Company D. Based on these hypothetical numbers, Company B is the
market ________.
A) leader
B) challenger
C) follower
D) nicher
E) maven
Answer:
Firms use competitive marketing intelligence to ________.
A) create and sustain market monopolies
B) counter the adverse effects of organizational anarchy
C) perpetuate organizational learning
D) gain early warnings of competitor moves and strategies
E) strengthen weak ties with industry competitors
Answer:
Marketing communicators must be good at ________ messages that take into account
how the target audience ________ them.
A) delivering; encodes
B) sending; encodes
C) encoding; decodes
D) retrieving; perceives
E) decoding; receives
Answer:
Which consumer group tends to show more brand loyalty and make shopping a family
event, with children having a big say in the purchase decision?
A) Hispanic Americans
B) African Americans
C) Arab Americans
D) working class consumers
E) middle class consumers
Answer:
Which of the following is most likely a shortcoming of advertising?
A) It is the most expensive promotion tool.
B) It cannot reach masses of geographically dispersed buyers.
C) It is impersonal and lacks the direct persuasiveness of company salespeople.
D) It cannot trigger quick sales.
E) It cannot be used to build up a long-term image for a product.
Answer:
Savings for You, a discount retail chain, is highly competitive. When entering a new
market, Savings for You often cuts prices so deeply that it sells below costs, effectively
pushing smaller companies with less purchasing power out of the market. Savings for
You is most likely guilty of ________.
A) market skimming
B) price fixing
C) deceptive pricing
D) price collusion
E) predatory pricing
Answer:
Which of the following is NOT an element of the marketing mix?
A) place
B) purchase
C) product
D) price
E) promotion
Answer:
Service ________ means that services cannot be stored for later sale or use.
A) consistency
B) perishability
C) variability
D) intangibility
E) inseparability
Answer:
Which of the following is a disadvantage of online focus groups?
A) Responses are not instantaneous.
B) Controlling the online sample is difficult.
C) Results take a long time to tabulate and analyze.
D) Facility, technology, and travel costs are very high.
E) Researchers are unable to view the sessions in real-time.
Answer:
Moral appeals ________.
A) relate to the audience's self-interest by showing that the product will produce the
desired benefits
B) attempt to stir up either negative or positive emotions that can motivate purchase
C) range from love, joy, and humor to fear and guilt
D) are directed to an audience's sense of what is "right" and "proper"
E) are based on the idea that practical benefits are more important for consumers than
emotions
Answer:
Advertising is used mostly by ________.
A) governments
B) business firms
C) social agencies
D) independent professionals
E) not-for-profit organizations
Answer:
Personal communications about a product between target buyers and neighbors, friends,
family members, associates, and other consumers, are known as ________.
A) personal selling
B) direct marketing
C) public relations
D) buzz marketing
E) word-of-mouth influence
Answer:
What are the key functions that members of the marketing channel perform?
Answer:
What structure can an American family have now, as the traditional family has
changed?
Answer:
Why might the Hispanic American market be a viable targeted group for a new
marketer of products?
Answer:
What are the different ways in which the major cultural values of a society are
expressed?
Answer:
What is an advertising objective? What are the three primary types of advertising
objectives?
Answer:
In what way might a marketer rely on opinion leaders?
Answer:
Jack owns an e-commerce Web site. What kind of a research method should he use in
order to obtain valuable insights about the buying motives and behaviors of online
shoppers?
Answer:
Explain the psychology behind a price of $9.99 instead of $10.00.
Answer:
List four types of segmented pricing.
Answer:
What factors are assessed in test marketing?
Answer:
Compare the selling and marketing concepts, listing the key components of each
philosophy.
Answer:
Describe some important strategies for a marketer of a high-involvement product.
Answer:
Describe the three characteristics that advertising appeals should have?
Answer:
Explain the goal of viral marketing.
Answer:
The marketing team at Bead Beautiful, a jewelry brand targeted at preteen girls, is
meeting to formulate the product's value proposition. What should team members
consider as they define a value proposition for Bead Beautiful?
Answer:
Why are profound changes in marketing communications creating both exciting and
scary times for marketing communicators?
Answer:
