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Which of the following is a similarity between trade sales promotion and consumer
sales promotion?
a. Both focus on providing incentives to consumers or wholesalers to make an
immediate purchase.
b. Both focus on providing push money and trade allowance to loyal consumers.
c. Both aim to increase sales by using point-of-purchase display.
d. Both aim to segment a market based on its characteristics.
Answer:
Which of the following statements is true about the Great Recession?
a. Tweens are the most affected by it.
b. It increased inflation rates to almost ten percent.
c. It began with the collapse of inflated housing prices.
d. It increased employment rates to almost ten percent.
Answer:
Silver Line Electronics Inc. uses technology to produce laptops and other gadgets in
bulk based on each individual client's specific needs and requirements. This is an
example of _____.
a. standardization
b. reverse engineering
c. benchmarking
d. mass customization
Answer:
Which of the following is true of product modification?
a. It entails the creation of marketable new products.
b. It necessitates the use of crowdsourcing to develop new ideas for a product.
c. It goes beyond applied research by converting applications into marketable products.
d. It makes cosmetic or functional changes to existing products.
Answer:
Retailers play a role in making distribution simpler by reducing the number of
transactions required by consumersto make a purchase and by making an assortment of
goods available in one location. Thisis called _____.
a. forward integration
b. contact efficiency
c. sorting
d. reciprocity
Answer:
An ideal marketing penetration strategy would be to offer cash backs and discounts on
products to customers.
a. True
b. False
Answer:
The most common markup figures on merchandise and transportation costs are six
percent at the retail level and two percent at the wholesale level.
a. True
b. False
Answer:
Which of the following is considered an advantage of decreasing a product's quality?
a. It gives manufacturers greater ability to raise prices for the product.
b. It allows manufacturers to appeal to target markets unable to afford the original
product.
c. It motivates customers to replace worn out products.
d. It enhances the ease of coordinating promotion from market to market.
Answer:
A few years ago, Jenny Inc. introduced a small, lightweight snow removing machine in
the market called the Snow Pup. Even though the product worked well, sales failed to
meet expectations because consumers perceived the name to mean that the Snow Pup
was a toy or too light to do any serious snow removal. In this scenario, which of the
following explains the perception of consumers?
a. Selective distortion
b. Stimulus discrimination
c. Cognitive dissonance
d. Confirmation bias
Answer:
Individuals in the age group of 12 to 18 years, who extensively use the internet is an
example of a market segment.
a. True
b. False
Answer:
An effective business mission statement is:
a. based on an analysis of anticipated environmental conditions.
b. defined in terms of the products and services the company produces.
c. based on short-term thinking and marketing myopia.
d. developed independently of the external business environment.
Answer:
_____ is a fast-growing way to conduct global business in which all or part of the
payment for goods or services is in the form of other goods and services.
a. Countertrade
b. Global market standardization
c. Exporting
d. Market grouping
Answer:
_____ is a price tactic that charges freight costs from a given point, regardless of the
city from which the goods are shipped.
a. Free on board (FOB) origin pricing
b. Zone pricing
c. Uniform delivered pricing
d. Basing-point pricing
Answer:
Which of the following is true of a concentrated targeting strategy?
a. It allows a firm to serve two or more well-defined market segments simultaneously.
b. It is often adopted by small firms to compete effectively with much larger firms.
c. It follows a mass-market philosophy by viewing the market as one big market
without any individual segments.
d. It often results in cannibalization, which occurs when sales of a new product cuts into
sales of an existing product.
Answer:
Which of the following statements is true of a promotional mix?
a. Control over message content is greatest when public relations is used.
b. A large audience is best reached with personal selling.
c. In advertising, the sponsor or company is identified.
d. The mode of communication for sales promotion is usually direct and personal.
Answer:
During an external information search, a consumer is most likely to enlarge his search
and consider more alternative brands when:
a. he has a great deal of prior experience while shopping for the product or service.
b. the perceived risk of the product or service to be purchased increases.
c. he is confident of making a purchase decision with the information at hand.
d. the product or service to be bought is a frequently purchased, low-cost item.
Answer:
The goal of inventory management is to:
a. minimize inventory levels while maintaining an adequate supply of goods to meet
customer demands.
b. maintain the highest possible inventory of raw materials and finished goods as buffer
stocks.
c. act as an alternative to supply chain management in firms.
d. create regular customer stockouts so that the demand for products increases.
Answer:
Which of the following is a personal characteristic that influences an individual's
buying decisions?
a. Lifestyle
b. Culture
c. Motivation
d. Learning
Answer:
Delta Inc. is a large organization that believes in serving the community it operates in.
The organization conducts several campaigns about health awareness and also provides
donations to nonprofit organizations working on such causes. Delta is illustrating
_____.
a. corporate social responsibility
b. divestment
c. social loafing
d. corporate self-dealing
Answer:
A beverage company plans to launch a new energy drink. It decides to partly sponsor a
marathon in the city. It places billboards and posters describing the new drink
throughout the marathon route. Company representatives distribute flyers to people
arriving to watch the marathon. The company also issues press releases as part of the
product launch. Therefore, the company is executing a:
a. sales promotion campaign.
b. personal selling campaign.
c. target marketing strategy.
d. public relations strategy.
Answer:
Which of the following strategies is a marketing manager most likely to follow to
increase sales of a high-involvement product?
a. Create an advertisement that gives consumers all the necessary information to make a
purchase decision
b. Focus on the package design of products so that the products will be eye-catching
and easily recognized on the shelf
c. Link a product to a higher-involvement issue to create positive publicity
d. Give coupons, cents-off deals, and two-for-one offers
Answer:
Which of the following is a primary function of the product development and
commercialization process?
a. It seeks to align supply and demand throughout the supply chain by anticipating
customer requirements at each level.
b. It deals with ensuring that firms in the supply chain have the required resources to
manufacture with flexibility.
c. It deals with situations in which customers choose to return a product to the retailer
or supplier, thereby creating a reverse flow of goods within the supply chain.
d. It includes the group of activities that facilitates the joint development and marketing
of new offerings among a group of supply chain partner firms.
Answer:
A cost that changes with the level of output is called a(n) _____ cost.
a. liquidity
b. variable
c. fixed
d. indirect
Answer:
Franchising is a form of exporting.
a. True
b. False
Answer:
Members of a family who suggest or plant the seed for the purchase process are called
_____.
a. influencers
b. purchasers
c. consumers
d. initiators
Answer:
The Foreign Corrupt Practices Act:
a. applies exclusively cases of financial misrepresentations made by foreign
corporations that have entered into contracts with U.S. corporations.
b. prohibits U.S. corporations from entering into contracts with foreign corporations.
c. applies exclusively to foreign corporations in the U.S.
d. prohibits U.S. corporations from bribing public officials of foreign governments.
Answer:
Providing superior service to a firm's most valuable customers is likely to result in a
maximization of the total business value generated over time.
a. True
b. False
Answer:
A marketing strategy involves the activities of selecting and describing one or more
target markets.
a. True
b. False
Answer:
_____ is a process whereby a consumer notices certain stimuli and ignores others.
a. Stimulus generalization
b. Selective exposure
c. Cognitive dissonance
d. Selective retention
Answer:
The use of concept tests during the idea screening stage of the new-product
development process reduces the efficiency of screening.
a. True
b. False
Answer:
An advertising campaign:
a. may contain a wide variety of themes and slogans.
b. extends for a defined period of time.
c. acts as a base for defining an advertising objective.
d. starts with determining the appropriate media for the campaign.
Answer:
Why are marketing costs high in the introductory stage of the product life cycle?
a. Cutthroat competition during the introductory stage can lead to price wars.
b. Sales increase rapidly during the introductory stage, requiring greater investment for
marketing.
c. High dealer margins are often needed to obtain adequate distribution.
d. Product and manufacturing costs need to be identified and corrected.
Answer:
Leo buys 500 sheets of paper from a vendor for his printing firm. He is satisfied with
the product, and he orders the same quantity from the same vendor every week. This is
most likely an example of a _____.
a. joint demand
b. straight rebuy
c. product exchange
d. modified rebuy
Answer:
A firm should choose all five promotional elements in its promotional mix and use them
in equal degrees.
a. True
b. False
Answer:
_____ means persuading customers to buy a higher-priced item than they originally
intend to purchase.
a. Suggestion selling
b. Trading up
c. Brand cannibalization
d. Microtargeting
Answer:
In the context of the several criteria based on which supply chain managers choose an
appropriate mode of transportation,__________is the ability of a carrier to provide the
appropriate equipment and conditions for moving specific kinds of goods, such as those
that must be transported in a controlled environment.
Answer:
Justify the statement, "Shopping bots have made the purchase decisions of consumers
more efficient."
Answer:
A(n)__________is an organized pattern of knowledge that an individual holds as true
about his or her world.
Answer:
Randy's Apparels Inc. plans to expand its customer base and product line. It introduces
a new line of designer wear that are very expensive and exclusively available at
Randy's. It emphasizes the high quality and exclusivity of this new line of products in
its advertisements. In this case, Randy's Apparels has used__________for the new line
of products.
Answer:
Why do effective negotiators avoid using price as a negotiation tool?
Answer:
There are four promotional strategies for dealing with the unique features of services.
Name these strategies and give examples of each, using American Airlines (or another
air carrier you are familiar with) as your example.
Answer:
Explain in detail the importance of the Internet for implementing simultaneous product
development.
Answer:
Discuss the relationship between businesses and the government.
Answer:
Explain how marketers manage unfavorable publicity using an example.
Answer:
In the context of the types of business products, consumable items that do not become
part of a final product are known as__________.
Answer:
Consumer's expectations of doing new things with varied kinds of information in ways
that create value have resulted in the emergence of__________.
Answer:
Describe the term personality.
Answer:
By sending postpurchase letters and giving guarantees on products, marketing managers
can help reduce__________.
Answer:
How has the use of supply chain management resulted in a radical reformulation of
traditional marketing, production, and distribution functions?
Answer:
Brewdom, a leading multinational beverage corporation, has teamed up with Wealth
from Waste to develop a plan to improve the reverse logistics of used beverage bottles
for recycle and reuse. Together, Brewdom and Wealth from Waste have plans to deploy
thousands of "Recycle Machines" in both permanent and temporary locations that will
take empty bottles and provide rewards to consumers who participate. These companies
are practicing__________.
Answer:
__________is a sales practice that involves building, maintaining, and enhancing
interactions with customers in order to develop long-term satisfaction through mutually
beneficial partnerships.
Answer:
Francis, a restaurant chain's social media manager, wants to conduct an online contest
to promote his restaurant. He conducts the contest in a social networking site which
allows people to post only 140-characters long updates. In this context, Francis has
used__________to conduct the contest.
Answer:
Lina and her friends decide to watch a movie at Lina's house. They watch the movie
online on MovieStop.com. This business model is an example of__________.
Answer:
Marketers at Omega Pharmaceuticals are identifying stores and outlets that will be most
convenient for customers to buy its products. The company is also planning the logistics
of how and when the products will be delivered to the outlets. Omega Pharmaceuticals
is working on its__________strategy.
Answer:
