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Rather than competing head to head with established competitors, many companies
seek out unoccupied positions in uncontested market spaces. They try to create products
and services for which there are no direct competitors. This is called a ________.
A) horizontal integration approach
B) commercialization process
C) guerrilla marketing technique
D) blue ocean strategy
E) lean dynamics approach
Answer:
Which of the following is the LEAST critical decision a company should make before
going abroad?
A) Can the company learn to understand buyer behavior of consumers in other
countries?
B) Can the company offer competitively attractive products?
C) Can the company adapt to other countries' business cultures?
D) How many foreign nationals should the company employ?
E) Do the company's managers have the necessary international experience?
Answer:
In a(n) ________, new products and marketing tactics are tested among specifically
identified groups of customers and stores.
A) controlled test market
B) simulated test market
C) standard test market
D) systematic sample
E) accidental sample
Answer:
The decisions about impact and engagement of an advertisement fall into the category
of ________ decisions.
A) sales objectives
B) budget
C) message
D) media
E) advertising evaluations
Answer:
Critics charge that a company's marketing practices can harm other companies and
reduce competition. One of the problems critics identified is ________.
A) pollution
B) barriers to entry
C) unfair discrimination
D) bait-and-switch advertising
E) fair packaging and labeling
Answer:
________ are facing slow sales growth because of slower population growth, increased
competition, and the rapid growth of out-of-home eating.
A) Warehouse clubs
B) Off-price retailers
C) Discount stores
D) Supermarkets
E) Factory outlets
Answer:
CellTones, a new company selling several types of cellular phones, has closely modeled
its products after successful products that are already in the marketplace. As it prepares
to enter the market with its new products and services, which of the following should
concern CellTones the most?
A) legal obligations to suppliers and dealers
B) patent laws
C) distribution requirements
D) product liability suits
E) limited warranties
Answer:
________ are large and highly automated warehouses designed to receive goods from
various plants and suppliers, take orders, fill them efficiently, and deliver goods to
customers as quickly as possible.
A) Loading docks
B) Open warehouses
C) Distribution centers
D) Shipping platforms
E) Product platforms
Answer:
Rachel works for a furniture company in Ireland. She is responsible for buying and
selling goods at a profit to small retailers. Rachel most likely operates in a ________
market.
A) business
B) reseller
C) wholesale
D) consumer
E) retail
Answer:
Target recently opened temporary shops to celebrate limited-run collections by Jason
Wu in Toronto and Missoni in New York. These temporary shops are examples of
________.
A) lifestyle centers
B) pop-up stores
C) warehouse clubs
D) strip malls
E) category killers
Answer:
In the context of a company's marketing mix, ________ includes company activities
that make the product available to target consumers.
A) position
B) place
C) price
D) promotion
E) branding
Answer:
Which of the following is most likely a true statement about sales compensation in
economically tough circumstances?
A) Cutting sales force compensation is usually a last resort for firms that want to
maintain positive customer relationships.
B) Morale is boosted by distributing commissions equally among low and high sales
performers.
C) Online selling is discontinued to improve customer relations.
D) Compensation for the inside sales force is reduced to increase commissions for the
outside sales force.
E) Low performers are retained and top performers are dismissed to reduce commission
payments.
Answer:
Sparex Inc. is a manufacturer of metal bolts that are used by Boilex Inc. to manufacture
heavy machineries. In this instance, Sparex acts as a ________.
A) financial intermediary
B) supplier
C) retailer
D) customer
E) local public
Answer:
Orion is planning to give away free mouse pads imprinted with the company logo and
name to anyone who enters their store on the day they launch their new laser mouse.
What kind of sales promotion is Orion planning?
A) promotional products
B) rebate
C) price packs
D) sweepstakes
E) premiums
Answer:
While shopping at KelfanDesigns.com, Shelly came across a checkbox beside which a
statement said, "I want to receive promotional offers from KelfanDesigns.com." Which
of the following types of marketing is illustrated in this example?
A) telemarketing
B) viral marketing
C) direct response television marketing
D) contextual advertising
E) permission-based e-mail marketing
Answer:
Which of the following involves the direct exchange of goods and services?
A) cash transaction
B) compensation
C) buyback
D) blocked currency
E) barter
Answer:
Katrina Mendoza is a senior manager in a manufacturing firm that hires lobbyists to
influence legislation that affects the manufacturing industry. Katrina's firm takes a(n)
________ stance toward the marketing environment.
A) reactive
B) proactive
C) adversarial
D) passive
E) altruistic
Answer:
Which of the following is illustrated by an amateur 30-second video, developed by a
consumer, telling the story of the online crafts marketplace, Etsy.com?
A) personal selling
B) consumer-generated messages
C) consumer ethnocentrism
D) sales promotion
E) consumerism
Answer:
Capitalizing on the customer's complaints about the previous detergents she has used,
Sheila, a salesperson, explains to the customer why her company's detergent Swish is
better and how it can be a one-stop solution for everyday washing. In which of the
following steps of the selling process is Sheila?
A) follow-up
B) handling objections
C) preapproach
D) presentation
E) prospecting
Answer:
A market-penetration pricing policy should LEAST likely be used for a new product
when ________.
A) the market is highly price sensitive
B) production and distribution costs fall as sales volume increases
C) the product's quality and image support a high price
D) a high price helps keep out the competition
E) there are few or no competitors in the market
Answer:
In the ________, each salesperson is assigned to an exclusive geographic area and sells
the company's full line of products or services to all customers in that region.
A) territorial sales force structure
B) digital marketing system
C) product sales force structure
D) geographical operations system
E) customer sales force structure
Answer:
People vary in their attitudes toward their societywhile ________ defend it, malcontents
want to leave it.
A) reformers
B) patriots
C) activists
D) environmentalists
E) historical revisionists
Answer:
A successful CRM program is expected to help a company achieve all of the following
EXCEPT ________.
A) provide higher levels of customer service
B) develop deeper customer relationships
C) create offers tailored to meet specific customer requirements
D) understand the competition better
E) pin-point high-value customers and cross-sell products
Answer:
A(n) ________ refers to promotional money paid by manufacturers to retailers in return
for an agreement to feature the manufacturer's products in some way.
A) allowance
B) sample
C) discount
D) tax credit
E) tax exemption
Answer:
Marketing control involves four steps including all the following EXCEPT ________.
A) setting specific marketing goals
B) measuring the marketing plan's performance in the marketplace
C) evaluating the causes of any differences between expected and actual performance
D) increasing the staffing in the planning department
E) taking corrective action to close the gaps between goals and performance
Answer:
________ perform a role similar to that of brokers or agents but are part of the buyer's
organization.
A) Truck jobbers
B) Merchant wholesalers
C) Purchasing officers
D) Rack jobbers
E) Cash-and-carry wholesalers
Answer:
Neal Murphy sells his company's unique products on television programs. He hosts a
30-minute show in which he demonstrates and explains the advantages of the product.
At the end of the show, a toll-free number is displayed on the screen that can be used by
viewers to place their orders for the product. Which of the following forms of
advertising is evident here?
A) direct-response television advertising
B) telemarketing
C) interactive television marketing
D) podcast marketing
E) kiosk marketing
Answer:
Currently, in the United States, job growth is the strongest for ________.
A) blue collar workers
B) manufacturing workers
C) professional workers
D) construction workers
E) sanitation workers
Answer:
________ are useful articles imprinted with an advertiser's name, logo, or message that
are given as gifts to consumers.
A) Rebates
B) Cents-off deals
C) Premiums
D) Promotional products
E) Sweepstakes
Answer:
Competitors are most likely to react to a price change when ________.
A) a large number of competitors are involved
B) the product is uniform
C) the buyers are not well informed about product features
D) buyers are not well informed about price differences
E) the products are not uniform
Answer:
Companies use secondary data, personal experience, and word of mouth to ________.
A) identify competitors' target customers and strategies
B) identify competitors' target locations and market share
C) learn about their competitors' strengths and weaknesses
D) select competitors to attack or avoid
E) estimate competitors' sales projections
Answer:
________ consists of strong short-term incentives that invite and reward quick
responses from customers.
A) Public relations
B) Personal selling
C) Advertising
D) Sales promotion
E) Direct marketing
Answer:
Explain the marketing decisions faced by wholesalers.
Answer:
What is a "public" in terms of the marketing environment? In a short essay, briefly
describe the different types of publics that marketers must consider and explain how
marketing might communicate with these publics.
Answer:
Identify and describe the different types of retailers, based on their product lines.
Provide an example of each type of retailer.
Answer:
What strategy should a marketer use upon learning that consumers are not buying a
product because they do not perceive a need for it?
Answer:
Differentiate between dynamic and fixed pricing.
Answer:
Discuss the concepts of advertainment and branded entertainment.
Answer:
Give two examples of by-product pricing.
Answer:
How do people's views of nature affect marketers?
Answer:
Describe the purpose, roles, and achievements of GATT and the WTO.
Answer:
The potential sales, costs, and profit projections are being determined for a new product
idea at Art for Kids. Which of the following stages of the new product development
process does this illustrate?
Answer:
What is deceptive pricing?
Answer:
What are the key service characteristics a company must consider when designing
marketing programs? Briefly describe each characteristic.
Answer:
What is demography? Why is the demographic environment of major interest to
marketers? Discuss the changing age structure of the U.S. population.
Answer:
What is a conventional distribution channel?
Answer:
Explain the concept of the price ceiling.
Answer:
Why is the use of direct-response television growing in popularity?
Answer:
Briefly describe geographic segmentation.
Answer:
What are the desirable qualities for a brand name?
Answer:
