BUSMT 548 Quiz 3

Document Type
Test Prep
Book Title
A Preface to Marketing Management 14th Edition
J. Paul Peter, James Donnelly
For which of the following products is a retailer most likely to use prestige pricing?
A. Plastic storage containers
B. Fresh fruits
C. Frozen desserts
D. Crystal wine glasses
_____ is a variation of cost-oriented pricing which is commonly used in retailing.
A. Cost-plus pricing
B. Markup pricing
C. Rate-of-return pricing
D. Bundle pricing
Product development and diversification can be characterized as _____.
A. product mix strategies
B. strategies based on differentiation
C. target market segmentation strategies
D. cost leadership strategies
Which of the following is true of personal selling?
A. It is suitable for technically complex products.
B. It is most suited for goods that can be presold.
C. It discounts the use of sales force as insignificant.
D. It leads to improper buying decisions on the part of consumers.
Which of the following is the primary differentiating factor for upper Americans from
the other social classes?
A. High emphasis on family ties
B. Less accessibility to food stamps
C. Unavailability of Medicaid
D. High incomes
As opposed to clients, customers:
A. must have names.
B. are served by the first person available.
C. have a strong relationship with the service provider.
D. are served on an individual basis.
What is indicated by the cross-functional perspective in strategic planning?
A. Management action in all functional areas of an organization provide a blueprint for
strategic planning.
B. All functional area plans should be derived from the strategic plan while at the same
time contributing to the achievement of it.
C. Objectives and strategies identified in the strategic plan are not related to other
objectives and strategies at higher and lower levels of the organization.
D. Objectives and strategies from the functional areas in an organization should be
translated into objectives and strategies for the strategic plan.
Which of the following describes the function of geodemographic segmentation?
A. It stresses the belief that the benefits people are seeking in consuming a given
product are the basic reasons for the existence of true market segments.
B. It identifies the specific households in a market by focusing on local neighborhood
areas and creates classifications of neighborhoods where people live and shop.
C. It determines the type of lifestyles that consumers have by asking them about their
activities, interests, and opinions, and groups them based on the similarity of their
D. It identifies the consumers' primary motivations and whether they are driven by
ideals, achievement, and/or self-expression.
Which of the following is true of obtaining detailed household demographics on foreign
A. The procuring costs involved will be low.
B. Census data cannot be obtained from the Internet, as per U.S. law.
C. Demographic data is always published in English.
D. The time required will be significant.
Which of the following types of incentives is likely to result in a potential performance
outcome of achieving greater market penetration?
A. Salary increases
B. Retirement plans
C. Stock options
D. Time off
Which of the following is the last stage in the general pricing model?
A. Setting pricing objectives
B. Evaluating price-product relationships
C. Analyzing profit potential
D. Changing initial price structure
When a service is produced and marketed simultaneously, it is representative of the
unique characteristic of a service that relates to its _____.
A. intangibility
B. perishability
C. inseparablility
D. uniformity
The principal task of the marketing function operating under the marketing concept is to
A. focus on selling products to a particular class of customers
B. increase the company's rate of production and devise methods to aggressively attract
consumers to purchase products
C. find effective and efficient means of making the business do what suits the interests
of customers
D. find ways to manipulate customers to do what suits the interests of the firm
Which of the following qualitative research methods is most likely to provide a better
idea of the causal relationships among variables?
A. Marketing audit
B. Observational research
C. Archival research
D. Experimental research
Which of the following occurs when a buyer and a salesperson have a close personal
relationship that leads to them relying on each other and communicating honestly?
A. Strategic alliance
B. Buyer-salesperson affinity
C. Functional relationship
D. Cross functional marketing
The customer service department at Mercury, a department store, has noticed that the
store's exchange process creates a lot of stress for customers. The customers need to
visit several counters before their product is finally exchanged for another. Customer
service management has decided to send questionnaires to customers, asking them to
respond to a list of questions and to provide their suggestions for improving the
exchange situation in the store. In this scenario, management is using the _____
research method.
A. focus group
B. survey
C. observational
D. experimental

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