The United States Army recently has been both praised and criticized for its use of a
popular video game, America’s Army, which is designed to reach potential recruits. The
game’s creator, Colonel Casey Wardynski, wanted to provide a sense of the training and
teamwork one could find in the Army’s military environment. The game is designed for
“boys 14 years or older,” which represent the Army’s __________.
A. mass market
B. actual recruits
C. restricted market
D. target market
E. untapped market
Answer:
The choice of a supply chain follows from a clearly defined marketing strategy and
involves three steps: (1) __________; (2) understand the supply chain; and (3)
harmonize the supply chain with the marketing strategy.
A. understand the environment
B. consider the legal consequences of partnering
C. understand the marketing strategy
D. understand the customer
E. understand the company’s goals
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:
A joint venture refers to
A. offering the right to a trademark, patent, trade secret, or similarly valued items of
intellectual property in return for a royalty or fee.
B. contracting with a foreign firm to manufacture products according to certain
specifications.
C. when a foreign company and a local firm invest together to create a local business.
D. having a company handle its own exports directly, but using intermediaries for
importing.
E. exporting through an intermediary, which often has the knowledge and means to
succeed in selling a firm’s products abroad.
Answer:
Often used interchangeably with the term vision, a(n) __________ frequently has a
meaningful theme and a long-term orientation.
A. point of difference
B. mission statement
C. business definition
D. customer value proposition
E. marketing plan
Answer:
Which of the following statements about marketing activities is most accurate?
A. Marketing is affected by society but rarely, if ever, affects society as a whole.
B. The marketing department works closely with other departments and employees to
implement marketing activities.
C. Marketing activities are the sole responsibility of the marketing department; other
departments are involved only if there is an emergency (such as a product recall).
D. Environmental forces do not affect marketing activities as long as a firm closely
monitors its environment through rigorous market research.
E. Marketing, after all is said and done, is essentially developing the right product and
convincing potential customers that they “need” it, not just “want it.”
Answer:
All of the following statements about the purchase involved in organizational buying
are true EXCEPT:
A. the length of time required to arrive at a purchase agreement can vary with size of
purchase.
B. the dollar value of a single purchase made by an organization often runs into
thousands or millions of dollars.
C. the size of purchase impacts who participates in the purchase decision.
D. the size of purchase impacts who makes the final decision.
E. the size of the purchase involved in organizational buying is typically smaller than
that in consumer buying but it is done more frequently.
Answer:
Product advertisements focus on selling __________.
A. publicity
B. an emotion or a feeling
C. a sense of well-being
D. goodwill
E. a product or service
Answer:
In the automobile industry, the supply chain manager is responsible for translating
__________ into actual orders and arranging for delivery dates.
A. marketing goals
B. customer requirements
C. marketing information
D. production requirements
E. company goals
Answer:
Demand-oriented approaches weigh factors that underlie expected __________ more
heavily than such factors as cost, profit, and competition when selecting a price level.
A. total revenue
B. stakeholder concerns
C. prevailing prices
D. product substitutes
E. customer tastes
Answer:
A reference value involves comparing the costs and benefits of __________.
A. substitute items
B. items of equal or greater value
C. products with which a consumer is familiar and items the consumer has not seen or
used before
D. items from one particular distributor
E. intangible items
Answer:
The average number of times a person in the target audience is exposed to an
advertisement is referred to as __________.
A. the exposure rate
B. GRPs
C. frequency
D. the hit rate
E. CPM
Answer:
A commonly used indirect channel moves product from producer to retailer to
consumer. This channel is used when
A. the cost of maintaining inventory is low.
B. the cost of inventory makes it too expensive to use a wholesaler.
C. there is little if any seasonal demand.
D. the risk lies solely with the manufacturer.
E. the retail outlets are regionally located.
Answer:
The new-product process an organization goes through to identify business
opportunities and convert them into salable products or services contains
A. three main steps: research, production, and distribution.
B. four distinct steps: research, evaluation, production, and distribution.
C. five key phases ranging from idea generation to creating the first prototype.
D. seven stages from new product strategy development to commercialization.
E. three phases: planning, implementation, and evaluation.
Answer:
An external search for product information is likely to occur when
A. the cost of gathering information is low.
B. review of past experience provides adequate information.
C. the risk of making a wrong purchase decision is low.
D. the item is frequently purchased.
E. the item is for personal use rather than for professional use.
Answer:
The ratio of the firm’s sales revenues or unit sales to those of the industry (competitors
plus the firm itself) is referred to as
A. target return on sales.
B. industry profit.
C. unit volume.
D. market share.
E. profit.
Answer:
The Boston Consulting Group (BCG) uses __________ to quantify performance
measures and growth targets to analyze its clients’ SBUs as though they were a
collection of separate investments.
A. target marketing
B. synergy analysis
C. market-product grids
D. business portfolio analysis
E. diversification analysis
Answer:
During the Pillsbury Bake Off, thousands of people across the country compete to
create the best new recipe using the sponsor’s products. Not only does the company
benefit from the publicity surrounding the event and the great recipes that can be used
later to increase product usage, but also there is an increase in product sales as
contenders buy items to practice their new recipes. The top 100 finalists are flown to
Orlando, FL to compete for cash and merchandise that exceeds $1 million! This is an
example of a very successful promotional __________.
A. challenge
B. contest
C. sweepstakes
D. competition
E. public relations campaign
Answer:
Twitter is a website that offers a social networking service, enabling its users to send
and read other users’ messages or conversations called tweets, which are text-based
posts of up to 140 characters displayed on the user’s profile page. Connected to each
“tweet” is a rich details pane that provides additional information, deeper context, and
embedded media. Companies are just beginning to use Twitter as a tool in their
relationship marketing programs. In what ways could Twitter be used to benefit both the
customer and the organization?
Answer:
An urgency close refers to
A. asking the prospect to make a decision on some aspect of the purchase.
B. allowing the prospect to use or lease the item on a limited temporary basis before
making a final commitment of purchase.
C. making an exchange of money or other unit of value.
D. quickly committing the prospect by making references to the time limits of the
purchase.
E. asking the prospect to make choices concerning delivery, warranty, or financing
terms.
Answer:
The typical Internet mom is
A. 23 years old, taking college classes online, and has an infant or toddler at home.
B. 28 years old, a college graduate, recently remarried, and the mother of a blended
family.
C. 35 years old, a high school graduate, and a single parent working outside the home.
D. 38 years old, married, a college graduate, and working outside the home.
E. 43 years old, recently divorced, children starting college, and working part-time.
Answer:
The four utilities marketing creates are
A. product, price, promotion, and place.
B. form, function, value, and people.
C. monopoly, monopolistic competition, pure competition, and oligopoly.
D. form, place, time, and possession.
E. natural gas, fossil fuel, electricity, and water.
Answer:
Redbox places vending machines at local convenience and grocery stores that allow
customers to rent and return popular DVDs 24 hours a day. This creates both
__________ and __________ utilities.
A. form and place
B. form and time
C. place and time
D. time and possession
E. form and possession
Answer:
Cash and carry wholesalers refer to wholesalers who
A. furnish the racks or shelves that display merchandise in retail stores, perform all
channel functions, and sell on consignment to retailers.
B. take title to merchandise but sell only to buyers who call on them, pay cash for
merchandise, and furnish their own transportation for merchandise.
C. own the merchandise they sell but do not physically handle, stock, or deliver it.
D. have a small warehouse from which they stock their trucks for distribution to
retailers.
E. work for several producers and carry noncompetitive, complementary merchandise
in an exclusive territory.
Answer:
To avoid competing with Japanese firms through their traditional channel of
distribution, Fran Wilson Creative Cosmetics Moodmatcher lip coloring is sold in
which type of retail venue?
A. grocery stores
B. flower shops
C. beauty salons
D. department stores
E. gift stores
Answer:
Risk taking as a transactional function refers to
A. unpredictable costs of transportation because of fuel prices.
B. product liability from poorly produced products that become defective.
C. the need to stock merchandise in anticipation of sales though it may become
obsolete.
D. trying new promotional campaigns that are unproven with consumers.
E. investments in new product development even when the product has a low chance of
long-term success.
Answer:
In addition to seeking ideas from more well-known sources, organizations also get ideas
from universities, inventors, and smaller nontraditional firms. For example, General
Mills partnered with Brigham Young University to license its patent for __________.
A. scones with coffee-flavored cream frosting
B. an Omega-3 enriched SKU for the Philadelphia cream cheese line
C. a carbonated yogurt called Go-Gurt Fizzix
D. deep fried chicken skins for people who cannot eat pork
E. a crispy baked macaroni and cheese snack that can be eaten out of a bag like Cheetos
Answer:
A marketing plan is developed during which phase of the strategic marketing process?
A. implementation
B. control
C. development
D. planning
E. evaluation
Answer:
Magazines like Fitness, Field & Stream, Golf Digest, and Health focus on how people
live their lives, and thus all use a __________ segmentation strategy.
A. psychographic
B. behavioral
C. situational
D. socioeconomic
E. geographic
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:
A flighting schedule combined with a steady schedule because of increases in demand,
heavy periods of promotion, or introduction of a new product is referred to as a(n)
__________.
A. continuous schedule
B. phased schedule
C. pulse schedule
D. turnover schedule
E. intermittent schedule
Answer:
For High-quality TV commercials, it typically costs about $354,000 to produce a(n)
__________ ad.
A. 15-second
B. 30-second
C. 60-second
D. infomercial
E. Super Bowl
Answer:
Mining companies, farms, financial services, and fisheries are all examples of
A. consumer markets.
B. cooperative markets.
C. reseller markets.
D. industrial markets.
E. government markets.
Answer:
Forward integration means
A. a retailer owns a manufacturing operation.
B. a wholesaler owns a manufacturing operation.
C. retailers form a strategic channel alliance with manufacturers to purchase products at
better prices since they are able to place much larger orders.
D. a producer owns an intermediary at the next level down in the marketing channel.
E. all links in the distribution chain own stock in the manufacturer’s company.
Answer: