The fourth step of the marketing research approach is to __________.
a. develop findings
b. define the problem
c. take marketing actions
d. develop the research plan
e. collect relevant information
Answer:
Which of the following is an example of time utility?
a. an iPhone with a “multitouch” user interface for easy navigation
b. a dry cleaners that is located inside a supermarket
c. Goodwill that has a 24-hour drop off box for clothing donations
d. a cell phone company that offers six-month financing, same as cash
e. a new herbal supplement that offers a 30-day free trial
Answer:
Advertisements that state the position of a company on an issue, such as the ads
sponsored by the Miller Brewing Company encouraging the responsible use of alcohol,
are __________ advertisements.
a. advocacy
b. pioneering
c. competitive
d. reminder
e. political
Answer:
Services performed by surgeons or lawyers are primarily evaluated on __________
properties.
a. search
b. form
c. indirect
d. credence
e. experience
Answer:
“To phase out” is the promotional objective of which stage of the product life cycle?
a. decline
b. growth
c. decelerated development
d. maturity
e. introduction
Answer:
Relationship marketing provides several benefits for service customers, including: (1)
the continuity of a single provider; (2) customized service delivery; (3) __________;
and (4) an absence of switching costs.
a. no need for comparison shopping
b. reduced stress due to a repetitive purchase process
c. discounted switching costs
d. implied warranties
e. strict government quality performance guidelines
Answer:
The trend toward sustainability and “green” business practices has expanded to include
many services as they strive to
a. comply with FDA rules.
b. increase their energy use.
c. reduce their capacity.
d. create a competitive advantage.
e. minimize consumer involvement.
Answer:
Because of the time, cost, and confidentiality problems of test markets, consumer
packaged goods firms often turn to __________, a technique that replicates a full-scale
test market to a limited degree.
a. partial rollouts
b. screening and evaluation
c. virtual reality testing
d. time to market
e. simulated test markets
Answer:
Service providers use tools such as __________, which consists of charging different
prices for different times of the day or during different days of the week to reflect the
variations in demand for their services.
a. scale pricing
b. capacity pricing
c. down-time pricing
d. off-peak pricing
e. fraction pricing
Answer:
Manufacturers use seasonal discounts to
a. get rid of expired merchandise.
b. prevent retailers from purchasing competitors’ products.
c. extend the peak seasonal selling season.
d. encourage buyers to stock inventory earlier than their normal demand would require.
e. temporarily spur primary demand during periods of soft sales, such as the beginning
of a month, after which prices will return to normal when selective demand picks up.
Answer:
In a buying center, __________ have the formal or informal power to select or approve
the supplier that receives the contract.
a. gatekeepers
b. deciders
c. buyers
d. influencers
e. users
Answer:
A company that uses an organizational structure based on its snowboards, skiing
equipment, and ice skates would most likely be using a ____________ grouping.
a. functional
b. reseller
c. product line
d. geographical
e. market-based
Answer:
Which of the following statements regarding the role of salespeople is most accurate?
a. Salespeople can identify creative solutions to customer problems.
b. Salespeople have the greatest say in company policy and therefore are its customers’
greatest advocates.
c. Salespeople truly know their customers and therefore are the best resource for
segmenting and selecting target markets.
d. Salespeople are the most highly trained of all a firm’s employees and therefore offer
the greatest customer security.
e. Salespeople are traditionally given greater authority than other company employees
and therefore can offer customers the best financial terms for their purchases.
Answer:
Impressions of the corporation that operates the store, the category or type of store, the
product categories in the store, the brands in each category, merchandise and service
quality, and the marketing activities of the store all contribute to the store’s
a. prices.
b. image.
c. emotional feelings.
d. name.
e. psychological attributes.
Answer:
Because more and more companies are concerned with the depletion of natural
resources, supply partnerships often include provisions for
a. green marketing.
b. regulatory exemptions.
c. stakeholder procurement.
d. ecological procurement.
e. sustainable procurement.
Answer:
One of the primary uses of the BBB Accredited Business logo is to
a. find the best price for a product or service among member firms.
b. facilitate local businesses that practice sustainability.
c. create a social network forum whereby firms and their customers can have an open
dialogue.
d. provide objective consumer protection for Internet users.
e. create a working relationship among businesses with similar core values.
Answer:
Where a social network following comes fromwith fans coming from a friend being
more valuable than those coming from an adis referred to as a
a. friendster.
b. friend visitor.
c. fan source.
d. fan base.
e. friend source.
Answer:
Which of the following is an inherent weakness of direct marketing?
a. high absolute costs
b. declining customer response
c. differing messages between salespeople
d. difficult to get media cooperation
e. easily duplicated and can easily lead to promotion wars
Answer:
Which of the following statements best reflects the guideline for working toward
consensus-building?
a. “Dean, I know you weren”t fully on board with this plan, but your expertise is
invaluable to us. What would you recommend as the best alternative we have left?”
b. “The decision has been made and we all have to deal with it whether we like it or
not.”
c. “Starting Wednesday, everyone on the team should wear black slacks and a red shirt.”
d. “Aram, you need to take the lead on this since you have the most experience. Just tell
the rest of us what to do.”
e. “If you don”t like the way things are going, speak up or shut up. Once we start, we”re
all going to be on the same page whether you like it or not.”
Answer:
Product development refers to the marketing strategy of
a. increasing sales of current products in current markets.
b. selling current products to new markets.
c. selling new products to new markets.
d. selling new products to current markets.
e. selling the same brands in both current and new markets.
Answer:
Vizio’s long-term goal for the next 20 to 30 years is to
a. have at least one of its HDTV products in every single home in the United States.
b. have its HDTVs exported from the U.S. to China.
c. be the next Sony.
d. be the next Apple.
e. create the first completely wireless HDTV entertainments system.
Answer:
For any product to be successful, it must be purchased by __________.
a. early adopters and laggards
b. early majority and late majority
c. late majority and laggards
d. innovators and early majority
e. innovators and early adopters
Answer:
New Balance has no celebrity endorsers and does minimal advertising, yet the athletic
shoe brand has 11 percent of the sales in the athletic footwear market. The marketing
team at New Balance estimates that increasing sales to 12 percent of the market will
require an increase of $10 million in marketing effort and will result in an increase of its
footwear sales of an additional $12 million. This 1 percent incremental increase from 11
to 12 percent is referred to as __________.
a. a rating
b. marginal market share
c. a sales response margin
d. a share point
e. a direct response rate
Answer:
When Cadillac uses advertising to promote specific features of its Escalade hybrid, it is
using which type of product advertisement?
a. reminder
b. competitive
c. pioneering
d. institutional
e. differentiation
Answer:
The O3 technology refers to an innovative tennis racquet Prince Sports developed that
simultaneously delivers faster racquet speed and a bigger ‘sweet spot” in the middle of
the frame. Prince Sports has implemented a __________ strategy with its O3 innovative
tennis racquet technology.
a. competitive segmentation
b. head-to-head
c. product differentiation
d. usage segmentation
e. market segmentation
Answer:
Dual distribution refers to
a. a level of distribution density whereby a firm selects a few retailers in a specific
geographical area to carry its products.
b. an arrangement whereby a firm reaches different buyers by employing two or more
different types of channels for the same basic product.
c. the blending of different communication and delivery channels that are mutually
reinforcing in attracting, retaining, and building relationships with consumers who shop
and buy in traditional intermediaries and online.
d. professionally managed and centrally coordinated marketing channels designed to
achieve channel economies and maximum marketing impact.
e. a practice whereby one firm’s marketing channel is used to sell another firm’s
products.
Answer:
The __________ has been used to prosecute resale restrictions, which are a supplier’s
attempt to stipulate to whom distributors may resell the supplier’s products and in what
specific geographical areas or territories they may be sold.
a. Sherman Act
b. Robinson-Patman Act
c. Federal Trade Commission Act
d. Clayton Act
e. Consumer Goods Pricing Act
Answer:
All of the following are examples of products or services that satisfy a consumer need
EXCEPT:
a. a pair of jeans.
b. an apple.
c. a student dormitory.
d. a sports car.
e. a jacket.
Answer:
Which of the following statements reflects Michael Porter’s theory regarding national
competitive advantage?
a. Clusters of strong suppliers can accelerate innovation.
b. A firm that succeeds in global markets has often left a domestic market because it
was too competitive.
c. A country’s natural resources, education, and infrastructure can represent obstacles
that are often difficult to overcome.
d. The first goal of a global marketer is to actively educate a nation’s domestic
customers.
e. A nation’s domestic workforce is more motivated to work for foreign corporations
than its own.
Answer:
Experts estimate that consumers conduct approximately __________searches each
month.
a. 17 billion
b. 23 billion
c. 39 billion
d. 68 billion
e. 92 billion
Answer:
Information and persuasive content are commonly combined to form
a. sex, fear, and humor appeals.
b. guilt, financial risk, and self-esteem appeals.
c. sex, fear, and self-worth appeals.
d. demographic, psychographic, and lifestyle appeals.
e. gender, ethnicity, and reference group appeals.
Answer:
The competitive market situation in which many sellers follow the market price for
identical, commodity products is referred to as
a. a pure monopoly.
b. an oligopoly.
c. monopolistic competition.
d. pure competition.
e. oligopolistic competition.
Answer: