The _____ of sales forecasting combines and averages the views of top management
representing marketing, production, finance, purchasing, and administration.
A. sales force composite method
B. customer expectations method
C. time-series analysis
D. jury of executive opinion method
Answer:
Identify the accurate statement regarding an effective mission statement.
A. It should focus on the physical product that the organization is offering at present,
not on the external forces that the organization is seeking to satisfy.
B. It should focus on public relations as its primary purpose.
C. It should not consider the critical characteristics and events of the past.
D. It should provide guidance to employees and managers in geographically dispersed
units.
Answer:
A drawback of using observation as a data collection method is that:
A. it is inaccurate in measuring overt behavior.
B. it cannot be used to study cross-cultural differences.
C. it is appropriate only for frequently occurring behaviors.
D. it cannot be used to collect sensitive data about the respondents.
Answer:
According to the VALSâ„¢ framework, which of the following psychographic groups
have the most abundant resources and may be motivated by any of the three
motivations of achievement, self-expression, and ideals?
A. Innovators
B. Thinkers
C. Achievers
D. Strivers
Answer:
Price deals are a form of consumer promotion where:
A. customers are offered regular trial sizes of the product either free or at a nominal
price.
B. customers are offered discounts from the product’s regular price.
C. additional amounts of the product are given to buyers on each purchase.
D. customers are given reimbursements for purchasing the product through mails.
Answer:
Mary prefers her dinner to be a very light meal, and she typically has milk and fruits at
night. Recently, when she went out for dinner with her colleagues, she ordered a large
portion of pasta with beef sausages along with a drink because she did not want to
offend her colleagues. In this scenario, Mary is influenced by the situational factor of
_____.
A. physical features
B. task features
C. time
D. social features
Answer:
Indie Frost is a website that sells snowboarding gear. A common strategy the website
employs is to offer a high discount on one of its products for a short period. The website
has found this strategy to have a high success rate since consumers tend to buy the
product impulsively due to its low cost. The nature of the website and its marketing
strategy suggests that Indie Frost targets the _____ of the VALSâ„¢ framework.
A. Thinkers
B. Experiencers
C. Survivors
D. Believers
Answer:
Which of the following approaches of determining advertising spending is often used in
conjunction with other approaches?
A. The per-unit expenditure approach
B. The all-you-can-afford approach
C. The competitive parity approach
D. The percent of sales approach
Answer:
Which of the following is a variation of the customer structure of organizing sales
force?
A. Geographical structure
B. Functional management
C. Product structure
D. Major account management
Answer:
According to the BCG matrix, _____ are often market leaders, but the market they are
in is not growing rapidly.
A. stars
B. question marks
C. cash cows
D. dogs
Answer:
Which of the following is true of the advantages of cost-oriented pricing?
A. They yield similar prices and minimize price competition in most industries.
B. They clearly and adequately reflect competition.
C. They give adequate consideration to both supply and demand factors.
D. They are very simple to use and generally yield a good price decision.
Answer:
Which of the following does a strategic risk involve?
A. The risk that a new product will not be developed within the desired time and budget
B. The risk of not matching the role of a new product with a specific strategic need of
the organization
C. The risk that a new product will not meet a market need in a strategic, value-added,
differentiated way
D. The risk of environmental influences that inhibit the strategic functioning of the
organization
Answer:
In _____, individuals approach their occupational roles with a weak commitment to
expected norms of behavior.
A. lethargic organizations
B. innovative firms
C. autocratic firms
D. adaptive firms
Answer:
For a marketing manager, social classes offer some insights into consumer behavior that
are potentially useful:
A. for developing the mission statement.
B. as a market segmentation variable.
C. for changing the structure of the social classes.
D. to form buying centers within his company.
For the marketing manager, social class offers some insights into consumer behavior
and is potentially useful as a market segmentation variable.
Answer:
Which of the following is true of licensing?
A. It involves bearing the development costs and risks associated with opening up a
foreign market.
B. It can be an attractive option in unfamiliar markets.
C. It ensures that the firm has tight control over manufacturing, marketing, and strategy
that is required for realizing economies of scale.
D. It is the most common strategy for large-scale companies.
Answer:
_____ allow a company to monitor whether salespeople are engaging in tasks such as
calling on new accounts, collecting past-due accounts, and planning and developing
sales presentations to the extent desired.
A. Quantitative quotas
B. Activity quotas
C. Performance graphs
D. Productivity logs
Answer:
Which of the following service qualities includes the willingness or readiness of
employees or professionals to provide service?
A. Sympathy
B. Responsiveness
C. Empathy
D. Quality
Answer:
In the organizational buying process, once the vendor analysis has been completed, the
next stage is _____.
A. purchase activities
B. postpurchase evaluation
C. straight rebuy
D. organizational need
Answer:
The direct channel of distribution is often used in the distribution of organizational
goods because:
A. the structure of most organizational markets is characterized by relatively few
customers.
B. the manufacturers lack economic power for hiring intermediaries.
C. most of the markets are geographically dispersed and heterogeneous.
D. many organizational products need a great deal of presale and postsale services.
Answer:
For which of the following purchases would a consumer most likely to be engaged in
limited decision making?
A. The purchase of a brand of candy bar without much deliberation
B. The purchase of a shirt for a friend based on its eye-catching advertisement after
comparing different brands
C. The purchase of a six pack of beer and a bag of popcorn by a food gourmet
D. The high priced renewal of a subscription to Hardware Age, a trade journal, by a
hardware store owner
Answer:
One of the psychological factors affecting pricing decisions is the:
A. expected consumption rates of potential buyers.
B. location of potential buyers.
C. amount potential buyers will be willing to pay for the product.
D. economic strength of potential buyers.
Answer:
Which of the following structures of organizing sales force works best when different
types of buyers have large or significantly different needs?
A. Product structure
B. Geographical structure
C. Functional structure
D. Customer structure
Answer:
Shannon Cruz is very particular about the kind of blue jeans she wears. She refuses to
buy anything other than Reeve’s 201 and is very keen about finding that particular fit,
since her local store does not have it. In this scenario, Reeve’s 201 is an example of a(n)
_____.
A. convenience good
B. intermediate good
C. intangible good
D. specialty good
Answer:
If a previously acceptable product for satisfying a consumer need is remembered, and
the consumer bases the particular purchase decision on it with little or no additional
information search or evaluation, then the source of information can be best described
as a(n) _____.
A. internal source
B. group source
C. marketing source
D. public source
Answer: