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Which of the following is critical to providing an atmosphere that stimulates new
product activity at the idea generation stage of the new product development process?
A. Filtering of ideas from unusual sources
B. Avoiding radical new product ideas
C. De-emphasizing funneling of ideas for screening
D. Facilitating top-management support
Answer:
Which of the following is true of the direct sales method of retailing?
A. It is ineffective in providing detailed information about a product.
B. It is not suited for marketing products like home appliances and kitchenware.
C. It is quite expensive, and consumers do not want to pay the higher prices needed to
cover the high costs of this method of retailing.
D. It is the fastest-growing type of retailing and is an alternative to the setting up of
virtual stores that incur more costs.
Answer:
Which of the following statements is true of conducting marketing research?
A. Marketing research delivers the most accurate results when it involves applying
quantitative techniques in the beginning of the research.
B. Marketing research suppliers are a better choice than internal researchers when they
have special expertise in a particular type of research.
C. Marketing research is seldom fruitful if contracted to outside parties.
D. Marketing research conducted internally is most reflective of a company's position.
Answer:
Macromedia Technologies Inc. makes computer generated vinyl signboards. These
signboards are stretched across billboards. It purchases raw materials that include rolls
of vinyl sheets from multiple vendors. Among the various categories of organizational
buyers, Macromedia Technologies Inc. is an example of a(n) _____.
A. producer
B. intermediary
C. government body
D. institution
Answer:
At which of the following stages of the new product development process has a new
product idea been evaluated from the standpoint of engineering, manufacturing,
finance, and marketing?
A. Idea generation
B. Product development
C. Idea screening
D. Project planning
Answer:
Which of the following takes place during the processing of research data?
A. Preparing the research report
B. Choosing between primary data and secondary data
C. Recording the maximal amount of useful information
D. Interpreting and assessing the research results
Answer:
Which of the following is an example of a marketing intermediary?
A. An agency that operates at a federal level and has a centralized distribution system
B. A not-for-profit body that aims at product distribution through charitable channels
C. A retailing agency that purchases products from manufacturers to resell at a profit
D. An independent business unit that manufactures its products by purchasing raw
materials from other agencies
Answer:
Forward integration is typically evident when a:
A. manufacturer purchases wholesalers.
B. wholesaler purchases manufacturers.
C. producer sells wholesalers to retailers.
D. retailer purchases manufacturers.
Answer:
Alcove Inc., a computer hardware manufacturer, provides post-installation technical
support to its customers by issuing free newsletters that contain tips on enhancing the
performance of a product and dealing with common performance-related issues. In this
scenario, Alcove is marketing _____.
A. improvised products
B. meta products
C. intangible products
D. extended products
Answer:
In the context of global marketing, which of the following best represents a defensive
goal?
A. An American entertainment company's desire to secure technological innovation
developed in France
B. An Italian multiplex corporation aiming to increase its long-term growth and profit
prospects by expanding its services to other nations
C. An automobile manufacturer planning to go overseas in the hopes of increasing its
sales revenue
D. A fast-food chain planning to improve its overall market position across different
nations by catering to the local needs of each nation
Answer:
Chello Inc., the largest smartphone manufacturing company has been selling the world's
cheapest smartphone called Zing. Recently, to increase its sales, Chello reduced the
price of the phone even further. The marketing slogan for the Zing series is "The
cheapest way to get smart." Chello Inc. is most likely using a _____ in this scenario.
A. product diversification strategy
B. market penetration strategy
C. product development strategy
D. market integration strategy
Answer:
According to the General Electric Portfolio Model, what should an organization do with
its strategic business units (SBUs) that fall into the red zone?
A. Hold share and build share
B. Harvest or divest
C. Produce and divest
D. Build share and harvest
Answer:
An administered vertical marketing system is exemplified by:
A. an independent retailer uniting with other retailers to manage resources jointly.
B. the franchise program of a parent company with an independent contractor.
C. the long-term relationship of a popular retailer with its regular suppliers.
D. a wholesaler who contracts with many retailers to carry out distribution.
Answer:
When completed, an effective mission statement will be primarily focused on the:
A. markets rather than the products.
B. internal problems of the organization.
C. product that the organization is offering.
D. narrow class of employee needs.
Answer:
_____ refers to the service provider's efforts to understand a customer's needs and then
to provide, as best as possible, individualized service delivery.
A. Assurance
B. Intangibility
C. Empathy
D. Quality
Answer:
Which of the following provides valuable information about what a target market thinks
about a product and what it is worth to them?
A. Slotting preference
B. Promotional discounting
C. Value substitution
D. Price elasticity
Answer:
Developing new products and services, or repositioning current product or service
images is a common function of _____.
A. quantitative research
B. qualitative research
C. primary data
D. secondary data
Answer:
Which of the following statements regarding the strategic goals of marketing
communications is most accurate?
A. Marketing communications designed to create awareness are especially important
for existing products rather than new products.
B. Unlike producers, retail stores and other organizations do not use communications to
build positive images.
C. An important goal of marketing communications is to build a relationship with the
organization's channel members.
D. It costs far more to retain an existing customer than to attract a new customer.
Answer:
A firm has chosen to create an organizational strategy based on differentiation. Which
of the following is the firm's next step in the strategic planning process?
A. Identifying the marketing mix
B. Creating an organizational mission
C. Setting organizational objectives
D. Formulating an organizational portfolio plan
Answer:
_____ risk is the risk that a new product will not be developed within the desired time
and budget.
A. Strategic
B. Credit
C. Market
D. Internal
Answer:
Autumn Wines Inc., a successful French wine company has turned the wide availability
of high-quality grapes in France into a competitive advantage. Which of the following
factors of Porter's model has been exemplified in this scenario?
A. Demand conditions
B. Factor conditions
C. Related and supporting industries
D. Company strategy, structure and rivalry
Answer:
