An arrangement a manufacturer makes with a reseller to handle only its products and
not those of competitors is referred to as a(n) __________.
a. tying arrangement
b. requirement contracting
c. exclusive dealing
d. territorial dealership contracting
e. selective distribution
Answer:
Intermediaries performing a transactional function in distribution are engaged in
buying, selling, and __________.
a. storing
b. financing
c. transporting
d. risk taking
e. merchandising
Answer:
Those in staff positions have the authority and responsibility to advise people in line
positions
a. and can recommend salary and benefit adjustments for them.
b. and serve the board of directors.
c. and must clear all such communication with the human resources department.
d. but cannot serve on team projects with them.
e. but cannot issue direct orders to them.
Answer:
Societal responsibility refers to
a. the obligation that organizations have to (1) the preservation of ecological
environment and (2) the general public.
b. the obligation of a firm to price its products or services at a level whereby the
consumer is treated fairly and the firm is still able to make a profit.
c. the view that an organization has an obligation to those who can affect the
achievement of its objectives.
d. the duty of a firm to maximize profits for its owners or stockholders.
e. the idea that organizations are part of a larger society and are accountable to that
society for their actions.
Answer:
Which of the following is NOT a reason to segment a market?
a. The ability to assign buyers to a segment is simple and cost-effective.
b. All the buyers in the entire market have similar wants and needs.
c. It would cause an increase in market share or profit.
d. There is a potential marketing action to reach it.
e. There are different wants and needs of buyers in the entire market.
Answer:
A __________ occurs when a person feels deprived of basic necessities such as food,
clothing, and shelter.
a. desire
b. need
c. utility
d. want
e. craving
Answer:
The four major types of limited-service merchant wholesalers are rack jobbers, cash and
carry wholesalers, truck jobbers, and __________.
a. machine vendors
b. credit line wholesalers
c. transport vendors
d. container transport vendors
e. desk jobbers
Answer:
Consumers have an obligation to __________ in the exchange process and in the use
and disposition of products.
a. get as much as they can for their money
b. support cause marketing efforts
c. reveal any and all pertinent personal information
d. act ethically and responsibly
e. seek products without ISO 14000
Answer:
A road map for the marketing activities of an organization for a specified future time
period, such as one year or five years is referred to as a __________.
a. business plan
b. marketing objective
c. marketing plan
d. marketing strategy
e. marketing program
Answer:
The personal, social, and economic significance of the purchase to the consumer that
causes them to skip or minimize one or more stages in the consumer purchase decision
process depends on their level of
a. aspiration.
b. cognitive dissonance.
c. motivation.
d. situational influences.
e. involvement.
Answer:
In an effort to make better and more efficient purchase decisions, the Ford Motor
Company forms loosely organized groups of people who work together on purchase
decisions. The people included in these groups change depending on the purchase
situation and may include key personnel from various departments, including research
and development, finance, marketing, shipping, and sales. Such a loosely organized
group of people within an organization who are involved in the purchase decision is
called an organizational
a. selling committee.
b. sustainable procurement department.
c. purchasing unit.
d. buying center.
e. buying committee.
Answer:
Within the channel of distribution for certain types of imported furniture, the typical
trade terms are 40/15/10. If a dining room table has a list price of $1,000, how much
would the manufacturer sell the table to a jobber for?
a. $1,000
b. $600
c. $510
d. $459
e. $400
Answer:
A formula-based method for determining the size of a salesforce that integrates the
number of customers served, call frequency, call length, and available selling time to
arrive at a salesforce size is referred to as a __________.
a. workload method
b. workhorse method
c. sales equity formula
d. territory distribution matrix
e. salesforce allocation method
Answer:
Specifying constraints, identifying data needed for marketing actions, and determining
how to collect data, would take place during which stage in the five-step marketing
research approach?
a. define the problem
b. develop the research plan
c. collect relevant information
d. develop findings
e. take marketing actions
Answer:
Mercedes-Benz cars and a Patek Philippe Platinum World Time wristwatch have a
common characteristicthey have an element of _________.
a. penetration pricing
b. target pricing
c. bundle pricing
d. yield-management pricing
e. prestige pricing
Answer:
The most senior executive responsible for a firm’s marketing activities is called the
__________.
a. brand manager
b. product manager
c. chief marketing officer
d. director of sales
e. marketing director
Answer:
Another name for competitive parity budgeting is __________ budgeting.
a. linear forecast
b. all-you-can-afford
c. comparative
d. matched media
e. matching competitors
Answer:
News conferences would most likely be used during which stage of a product’s life
cycle?
a. introductory
b. harvest
c. mature
d. growth
e. decline
Answer:
Mining companies, farms, financial services, and fisheries are all examples of
a. consumer markets.
b. cooperative markets.
c. reseller markets.
d. industrial markets.
e. government markets.
Answer:
The life cycle of a product depends on sales to __________.
a. consumers
b. distributors
c. intermediaries
d. brokers
e. exporters
Answer:
Poor performance on a contract may result in a supplier’s name being dropped from the
buying organization’s
a. industry directory.
b. make-buy list.
c. vendor-rating sheet.
d. suppliers sheet.
e. bidder’s list.
Answer:
Marketing seeks to discover the needs and wants of prospective customers and satisfy
them. Essential to this process is the idea of exchange, which refers to
a. the trade of things of value between buyer and seller so that each is better off after the
trade.
b. the negotiation phase between the manufacturer and the seller.
c. the financial remuneration (monetary payment) for a product or service.
d. the bartering of products and services for other products and services.
e. the practice of swapping products and services for other products and services rather
than for money.
Answer:
Which of the following statements regarding when and where online consumers shop
and buy is most accurate?
a. Eighty percent of online sales occur on weekdays.
b. The busiest shopping day is Saturday.
c. Only 20 percent of consumers say they visit websites from their place of work.
d. Most people buy online when they are depressed.
e. Favorite websites for workday shopping and buying feature shoes or work attire.
Answer:
If you watch much television, you have seen the ads that show a controlled crash of a
car containing crash test dummies and the resultant vehicular damage. In the
new-product process, this safety test would occur during the __________ stage.
a. development
b. market testing
c. idea generation
d. screening and evaluation
e. business analysis
Answer:
Another name for a manufacturer’s agent is _________.
a. manufacturer’s desk jobber
b. manufacturer’s transport vendor
c. manufacturer’s representative
d. manufacturer’s transport vendor
e. manufacturer’s jobber
Answer:
In 1990, a 30-second ad during the Super Bowl cost $700,000. By 2011, the cost had
soared to $3 million for a 30-second spot. The MOST LIKELY reason for the
escalating cost is that
a. the number of TV viewers for the Super Bowl is growing.
b. the ads are much more elaborate.
c. the NFL knows advertisers will pay more.
d. the ad agencies have dramatically increased their fees.
e. the companies that create Super Bowl ads do not have to run any other ads all year
long.
Answer:
__________ advertising is often used to support the public relations plan or counter
adverse publicity.
a. Institutional
b. Reminder
c. Competitive
d. Pioneering
e. Objective
Answer:
Surveys that enable the interviewer to be flexible in asking probing questions or getting
reactions to visual materials would be best conducted using
a. personal interview surveys.
b. mail surveys.
c. telephone interview surveys.
d. fax surveys.
e. online surveys.
Answer:
Large companies tend to favor __________ that link them with their network of
qualified suppliers and customers.
a. centralized markets
b. decentralized markets
c. private exchanges
d. segregated markets
e. integrated markets
Answer:
Mott’s applesauce promotes itself as a low-fat alternative to cooking oil for baked
goods. Mott’s is __________.
a. finding new users through a product modification strategy
c. increasing use by existing customers through a product modification strategy
c. modifying the product characteristics
d. creating new use situations through a market modification strategy
e. demarketing the product
Answer:
The process of having the receiver take a set of symbols, the message, and transforming
them back to an idea during the communication process is referred to as __________.
a. decoding
b. encoding
c. integrating
d. back translation
e. transformation
Answer:
A local university offers business courses for a specific target market composed of
people who currently work and want to take refresher courses to obtain a higher degree.
Which of the following would be the most effective way to communicate with the target
market, bearing in mind that communication must be both effective and economical?
a. put announcements on campus bulletin boards
b. distribute promotional materials during classes
c. advertise on national television
d. advertise on local hip-hop radio shows
e. advertise in the local newspaper
Answer:
Michael Porter has identified four key elements in a nation’s competitive advantage:
__________; demand conditions; related and supporting industries; and company
strategy, structure and rivalry.
a. industry composition
b. size of market
c. governmental regulation
d. suppliers
e. factor conditions
Answer: