Yield management systems are used to:
a. determine the availability of product substitutes in complex industries that are
experiencing rapid change
b. profitably fill unused capacity
c. predict necessary service levels to achieve revenue goals
d. determine whether it is financially more feasible to buy a new product or repair a
broken one
e. create elastic demand for low-involvement products
Answer:
The most important functions of packaging are to contain and protect products, promote
products, facilitate product storage, and facilitate recycling.
a. True
b. False
Answer:
Which of the following is NOT a social networking site?
a. Match.com
b. Last.fm
c. LinkedIn
d. Facebook
e. All of the above are social networking sites.
Answer:
All of the following are activities related to the manufacturing flow process EXCEPT:
a. improve manufacturing output in terms of quality, delivery speed, and flexibility
b. updating account status following shipment
c. leveraging the capabilities held by multiple members of the supply chain
d. creating flexible agreements with suppliers and shippers
e. producing of goods and service
Answer:
Consumers are reluctant to enter information through point-of-sale interactions because
of privacy violation fears.
a. True
b. False
Answer:
DeltaFaucet Company
Masco is the name of a well-recognized company in the construction industry. It
produces cabinetry, furniture, lighting, and plumbing fixtures for the upper-end
homeowner and builder. One of the divisions of Masco is the Delta Faucet Company,
which is the leader in the faucet industry. Delta was founded in 1955. Over the decades,
it has developed a legacy based on well-crafted, high-quality products. Since the 1970s,
Delta has focused its energies on building loyalty with the builder marketplace.
Research in 2002 showed that while builders respected the Delta faucet for its quality,
durability, and dependability, household consumers were not enamored with Delta
products. Due to the number of new magazines and television programs devoted to
home style, homeowners wanted faucets that were chic and stylish. This was not the
image of the Delta faucet. To change its image, Delta began a marketing program in
which it committed itself to developing new products to appeal to homeowners. It
adopted a new slogan”””Beautifully Engineered.”
Refer to Delta Faucet Company. Since Delta was already marketing to homeowners
(although not very successfully), its development of new styles of faucets to appeal to
this underserved market would be an example of a _____ strategy.
a. market penetration
b. product diversification
c. market development
d. product development
e. product penetration
Answer:
The sales and market orientations differ on all of the following characteristics EXCEPT:
a. those to whom the product is directed
b. the firm’s performance
c. the firm’s business
d. the firm’s primary goal
e. the tools to achieve goals
Answer:
Location-based social networking sites:
a. are a hybrid of media sharing and social networking sites.
b. distribute digital audio and video files serially for other people to listen to or watch.
c. are essentially short messaging systems designed primarily for internal
communication.
d. combine the fun of social networking with the utility of location-based GPS
technology.
e. allow users to archive and share photos and interesting external links.
Answer:
are learned tendencies to respond consistently toward a given object.
a. Motivational cues
b. Cultures
c. Lifestyles
d. Perceptions
e. Attitudes
Answer:
The fact that mothers in Japan feed their babies freeze-dried sardines and rice and most
mothers in the United States would not eat a freeze-dried sardine, much less feed it to
their babies, indicates how _____ influences the consumer decision-making process.
a. culture
b. perception
c. motivation
d. family life-cycle stage
e. reference group membership
Answer:
Ethnographic research is a form of experiment research because it is conducted without
any preconceptions.
a. True
b. False
Answer:
With _____, the seller pays the actual freight charges and bills every purchase with an
identical, flat freight charge.
a. uniform delivered pricing
b. zone pricing
c. FOB origin pricing
d. freight absorption pricing
e. basing-point pricing
Answer:
Social influences on consumer buying decisions include:
a. society, culture, and family
b. reference groups, society, opinion leaders, and family
c. personality, lifestyle, and reference groups
d. reference groups, opinion leaders, and family
e. lifestyle, reference groups, and family
Answer:
KraftFoods
Kraft Foods has established dedicated teams to focus on their business with many of
their largest customers. With “Team Kroger,” Kraft has combined with Nabisco selling
organizations in order to bring more unique shopper insights to Kroger supermarkets.
This helps Kroger understand their shoppers and customize their programs to grow
even more. At the same time, Kraft has strengthened its relationship with Kroger by
gaining a better understanding of the supermarket’s needs and how it can help support
Kroger’s business objectives concurrently with its own.
Refer to Kraft Foods. Each Kraft sales team member is given a statement of his or her
individual sales objectives, usually based on sales volume. This is called a(n):
a. sales lead
b. objective report
c. order forecast
d. account report
e. quota
Answer:
The most popular technique for gathering primary data is by observation.
a. True
b. False
Answer:
Which of the following describes cooperative branding?
a. When advertising identifies a brand as a part that makes up another product
b. When two brands receive equal treatment, borrowing from each other’s brand equity
c. When products are advertised together to suggest usage together
d. When advertising identifies a brand that should not be used with another product
e. When advertising identifies a family of brands
Answer:
WrestlingMerchandise
Market research has shown that 6- to 17-year-old males, 18- to 24-year-old females, and
18- to 44-year-old males are most likely to watch a televised professional wrestling
event or attend a live match. Wrestling events are regularly broadcast in 120 different
countries. Merchandise licensed by World Wrestling Entertainment (formerly known as
the World Wrestling Federation) can be purchased at JCPenney and Walmart. Clothes
for adults are used to reach markets that may not buy action figures, video games, and
novelty candy, but who are still proud to sport World Wrestling Entertainment (WWE)
trademarks.
Refer to Wrestling Merchandise. Prior to the 1990s, professional wrestling tried to
compete as a legitimate sport just like football and baseball. Now it uses the term
sports entertainment when talking about what it is marketing to its fans. This is an
example of the implementation of a(n) ______ strategy.
a. multisegment
b. product differentiation
c. undifferentiated marketing
d. target market
e. repositioning
Answer:
Which of the following statements best describes the typical target market?
a. A target market will remain stable over time, including the same group of consumers.
b. Target markets change over time as consumers drop in or out of the market, and as
tastes change.
c. Target markets are not strongly affected by changes in the external environment.
d. Target markets only change when the features and benefits of the product offering
change.
e. Target markets cannot be specifically defined according to age, income, or location,
because these factors are continually changing.
Answer:
Which of the following statements about a retailer’s promotion strategy is true?
a. The design of the promotion strategy would be done separately from the creation of
the retailing mix.
b. The goal of a retail store’s promotion mix is to position the store in consumers’
minds.
c. Most advertising for retailers is carried out at the national level.
d. Retailers find direct mail marketing inefficient.
e. Retail promotion strategy does not include public relations activities.
Answer:
_____ is a marketing strategy that creates new products for present markets.
a. Product penetration
b. Market penetration
c. Product development
d. Market development
e. Diversification
Answer:
James wants to open a small store that caters to the model railroad hobbyist. The store
would sell model trains, scenery, accessories, and books on the subject of model
railroading. Which of the following types of stores would most likely support an
effective launch of his business idea?
a. An off-price retailer
b. A specialty store
c. A full-discount store
d. A general store
e. A warehouse club
Answer:
All of the following are factors influencing ethical decision making and judgments
EXCEPT:
a. rate of prosecution
b. top management actions on ethics
c. probability of a harmful outcome
d. number of people to be affected
e. social consensus
Answer:
Benedict and Taapo are arguing about newspaper publicity. Benedict says favorable
publicity is free””hence the phrase, “free publicity.” Taapo says that publicity is not free
because costs were incurred in developing the public relations materials used by the
newspapers. Benedict has a more accurate grasp of the definition of publicity.
a. True
b. False
Answer:
The slogan used by the manufacturer of Jaguar automobiles, “Don”t dream it. Drive it.”
was intended to appeal to consumers’:
a. physiological needs
b. social needs
c. safety needs
d. esteem needs
e. self-actualization needs
Answer:
____ gives customers the feeling their concerns are being addressed and at the same
time gives employees the feeling their expertise matters to management.
a. Management-employee synergy
b. Organizational entropy
c. Managerial reciprocity
d. Empowerment
e. Delegation
Answer:
In 2000, Jones Soda used its Web site to ask its mostly teenage customers to suggest
new flavors, names, and labels and let other customers vote on which flavors should be
introduced into stores. Jones Soda was practicing co-creation.
a. True
b. False
Answer:
Morals are rules people develop as a result of cultural values and norms.
a. True
b. False
Answer:
____ is a measure of the decrease in the value of money, expressed as the percentage
reduction in value since the previous year.
a. Inflation
b. Recession
c. Depression
d. Consumer break-even
e. Price escalation
Answer:
Jones Soda is positioned as the anti-Coke. In the early years, few mainstream retailers
sold Jones Soda. Fans had to get their Jones fix in surf shops, tattoo parlors, and
bookstores, adding to the brand’s mystique. Jones Soda used its _____ to create a
competitive advantage.
a. channel ascendancy
b. distribution channel
c. channel conflict
d. channel focus
e. vertical integration
Answer:
_____ research depends on watching what people do.
a. Anonymous viewership
b. Observation
c. Interactive
d. Personal scanner
e. Survey
Answer:
Fairway is a chain of retail outlets in Iowa, Minnesota, Nebraska, and Illinois that are
described as large, departmentalized, self-service stores that specialize in food and
limited nonfood items. Fairway stores are:
a. off-price retailers
b. discount stores
c. wholesale clubs
d. convenience stores
e. supermarkets
Answer:
As long as the revenue of the last unit produced and sold is greater than the cost of the
last unit produced and sold, a firm should:
a. continue manufacturing.
b. not use formula pricing.
c. continue using price equilibrium.
d. consider using sales maximization pricing.
e. reach its break-even point very shortly.
Answer: