Which of the following refers to activities performed by sellers and others that
accompany the sale of a product and that aid in its exchange or its utilization?
A. Service products
B. Raw material extractions
C. Services
D. Manufacturing activities
Answer:
_____ are accepted and popular product styles that go through a repetitive cycle of
popularity.
A. Fashions
B. Impulse goods
C. Specialty products
D. Fads
Answer:
Stacy, a marketing manager at a beverage manufacturing firm, conducts a market
research to analyze the sales dip of the company’s product, Zeal, in the last quarter.
Through research, she understands that there is an immediate customer demand
requiring the use of organic ingredients to its cola, Zeal. She discussed with the research
and development team and decides to enhance Zeal with the introduction of organic
ingredients to it. This new product would fall into the category of _____.
A. new-to-the-world products
B. new-to-the-firm products
C. additions to existing product lines
D. improvements and revisions of existing products
Answer:
Which of the following distinguishes the American middle class from the working
class?
A. The middle class serves as its own reference group.
B. The middle class emulates the upper Americans.
C. The middle class receives public housing, food stamps, and Medicaid.
D. The middle class has lower income levels than the working class.
Answer:
The final step of marketing planning is _____.
A. selecting the target market
B. developing the market mix
C. establishing objectives based on the organizational mission
D. determining performance objectives for individual members of the marketing team
Answer:
Which of the following types of organizational purchases would be time consuming and
therefore the most complex?
A. Modified rebuy
B. New task purchase
C. Just-in-time inventory
D. Straight rebuy
Answer:
During her lunch hour, Shelly has to pick up her laundry, buy a new pair of hose,
deposit some money in her bank account, pick out a birthday present for her niece, and
have a quick lunch. Which situational influence will most likely have the greatest effect
on the purchase of the birthday gift?
A. Time
B. Task features
C. Social features
D. Money
Answer:
Which of the following is true of a corporate vertical marketing system?
A. It unites independent retailers for the purposes of pool buying to improve their
competitive position.
B. It has a strong channel leader at or near the end of the channel.
C. It is exemplified by the franchise system of a popular apparel store.
D. It involves a manufacturer’s single ownership of two or more levels of a channel.
Answer:
Continual prospecting is primarily important to:
A. discount customer objections.
B. increase customer turnover.
C. prevent customers from being acquired by other firms.
D. decrease customer retention rate.
Answer:
How would the owner of a restaurant measure the quality of service provided by his
employees?
A. By conducting cost-benefit analysis
B. By creating a workflow analysis chart
C. By measuring customer satisfaction
D. By conducting superficial analysis
Answer:
The second step in the prospecting process of customers involves _____.
A. generating leads
B. customizing prospects
C. screening prospects
D. randomizing leads
Answer:
Axis Pvt. Ltd., an international financial services firm, assigns projects to employees in
different nations. Since these multinational projects and careers provide employees with
global exposure, they are more than willing to cooperate. With regard to organizing the
multinational company, which of the following internal factors has been covered in this
example?
A. Structure
B. People
C. Culture
D. Management process
Answer:
In the idea screening phase of a new product development process, a firm finds that it
lacks the resources and expertise necessary to produce the product. Which of the
following is the best course of action for the firm?
A. It should consider the strategy of selling its existing products at lower prices.
B. It should stop wasting time, manpower, and funds on new product development.
C. It should quickly discount the new product idea.
D. It should consider forming joint or strategic alliances with other firms.
Answer:
Which of the following is responsible for making the comprehension of service
marketing difficult?
A. Lack of demand for services
B. Excessive marketing expertise
C. Factors of intangibility and inseparability
D. Obsolescence of services
Answer:
To reflect the increasing emphasis on achievement and career success in America, the
marketing managers of Silicon Field Corp. released a series of advertisements showing
the users of the computers designed by them as successful, pioneering professionals in
diverse fields such as architecture, medicine, and environmental awareness. The
advertisements were carefully designed to focus on customers, rather than listing out
multiple capabilities of the company’s computers. The advertisements also highlighted
that Silicon Field’s computers were the cheapest in the industry. In this scenario, the
marketing managers at Silicon Field Corp. adapted the company’s advertisements to
incorporate the _____ in their marketing effort.
A. product orientation
B. product features
C. cultural values
D. skimming strategy
Answer:
Redstone Inc. manufactures and markets computer games. Its latest game, Warrior
Xero, is designed specifically for teenagers. The company recently implemented a free
trial where they invited teenagers to their office to play the game. After the free trial, the
company’s market research executives conducted discussion sessions with the teenagers
to gain insights into the product and whether any changes needed to be made. The
research conducted by Redstone Inc. best exemplifies _____.
A. observational research
B. focus groups
C. mathematical modeling
D. group experiments
Answer:
Bay Shop, a consumer electronics retailer, wants to know how the shopping needs of its
consumers vary according to the day of the week. For instance, consumers tend to buy
more expensive items over weekends and shop for more necessary items’”such as
batteries’”over the week. To obtain relevant data, the store uses the scanner data
collected and stored in computer files from its checkout counters. The analysts will use
equations to determine relationships between the variables. Which of the following
research techniques is Bay Shop most likely using in this scenario?
A. Projective techniques
B. Mathematical modeling
C. Focus groups
D. Observational research
Answer:
A&B Ltd., a cell phone manufacturer headquartered in the Netherlands, has expanded
its operations to many nations, including Afghanistan. However, due to the civil unrest,
violent terrorism, and the unstable government, the company’s branch in Afghanistan
has not been able to function successfully. Which of the following problems has
affected A&B’s operations in Afghanistan?
A. Exchange Controls and Ownership Restrictions
B. Political uncertainty
C. Import restrictions
D. Cultural misunderstanding
Answer:
Which of the following is a correct statement regarding the characteristic of
inseparability of services?
A. Inseparable services cannot be produced and marketed simultaneously.
B. Direct sale is the only feasible channel of distribution for inseparable services.
C. When the buyer has a tangible representation of a service, the problem of
inseparability occurs.
D. Inseparable services can be inventoried.
Answer:
How is a skimming policy different from a penetration policy?
A. A skimming policy is used when demand for a product is price inelastic, while a
penetration policy is used when demand for a product is price elastic.
B. A skimming policy is used when a seller wants to charge a relatively low price on a
new product, while a penetration policy is used when a seller wants to charge a
relatively high price on a new product.
C. A skimming policy is used to obtain large economies of scale and for the rapid
creation of a mass market, while a penetration policy is used to capitalize on a
temporary monopoly.
D. A skimming policy is used to discourage competition, while a penetration policy is
used to obtain maximum revenue from the market before substitute products are
created.
Answer: