Emotional intelligence refers to __________.
A. the ability to anticipate and overcome a potential customer’s objections
B. a method of measuring the potential of people who have not had formal schooling
C. a measurement to determine a person’s patience in stressful selling situations
D. the ability to pick up personal cues, ticks, or tells, that help salespeople read their
customers in order to make a sale
E. the ability to understand one’s own emotions and the emotions of people with whom
one interacts on a daily basis
Answer:
Figure 7-2A
Figure 7-2A above shows the two main types of data. If box A represents the facts and
figures that are newly collected for the project, which type of data is A?
A. internal primary data
B. secondary data
C. external primary data
D. primary data
E. internal secondary data
Answer:
To attend a winter concert presented by the community chorus, every person had to
donate one unwrapped toy at the concert hall door. This statement is most closely
related to the __________ element of the marketing mix.
A. product
B. philanthropy
C. price
D. place
E. promotion
Answer:
Figure 4-1
In Figure 4-1 above, A represents which stage of the consumer purchase decision
process?
A. purchase decision
B. information search
C. problem recognition
D. alternative evaluation
E. option identification
Answer:
The division of products into durable and nondurable goods helps to __________.
A. comply with NAICS guidelines
B. address environmental concerns
C. comply with ISO 9000 requirements
D. classify products for tax purposes
E. provide direction for marketing actions
Answer:
Airline programs that encourage passengers to repeatedly use the same airline focus on
usage rate and employ a __________ strategy.
A. rate of recurrence
B. product utilization
C. incidence
D. frequency marketing
E. consumption index
Answer:
The strategies an organization develops to provide value to the customers it serves is
called a(n)
A. mission statement.
B. objective goal.
C. vision statement.
D. business model.
E. protocol.
Answer:
A local pet supplies boutique had a good year with rising revenues and reduced
operating costs resulting in personal income for the owner of nearly $100,000.
One-third of that went to local, state, and federal income taxes and another third went to
pay for a home mortgage, car payments, food, clothing, and other necessities. What is
the remaining third called?
A. gross income
B. bonus income
C. discretionary income
D. disposable income
E. profit
Answer:
Government taxes on products or services entering a country that primarily serve to
raise prices on imports are referred to as
A. tariffs.
B. quotas.
C. WTO taxes.
D. foreign excise taxes.
E. trade subsidies.
Answer:
Which form of retailing is Best Buy now using in airports to distribute its mobile phone
and computer accessories, digital cameras, flash drives, and other consumer
electronics?
A. vending machines
B. salespeople with mobile carts
C. mall-scale traditional retail stores
D. salespeople wearing Best Buy uniforms with products in backpacks
E. free-standing kiosks staffed with knowledgeable sales personnel
Answer:
The popularity of multichannel marketing is apparent in its growing impact on online
retail sales. Multichannel marketers are expected to register about __________ of U.S.
online retail sales in 2014.
A. 40%
B. 50%
C. 60%
D. 70%
E. 90%
Answer:
Which of the following is a profit-oriented pricing method?
A. target return-on-sales pricing
B. loss leader pricing
C. above-, at-, or below-market pricing
D. price lining
E. penetration pricing
Answer:
VALS groups of consumers motivated by __________ are those who are guided by
knowledge and principle.
A. ideals
B. achievement
C. self-expression
D. rewards
E. success
Answer:
Several companies produce latex gloves that are used in a variety of different industries.
If one of the glove manufacturers decreases its price by just a few percentage points, it
will result in a significant increase in quantity demanded. The demand for latex gloves
is
A. synergistic.
B. inelastic.
C. unitary.
D. elastic.
E. static.
Answer:
Foreign countries with very low per capita incomes may still be attractive markets for
some goods. To get a more reliable picture of a country’s purchasing power, a country’s
__________ must also be considered.
A. total income
B. total area
C. geographical location
D. culture
E. income distribution
Answer:
An advantage of using a panel of consumers for marketing research is
A. the discussion leader can help change negative panel responses into positive ones.
B. the company can find out if consumers change their purchasing behavior over time.
C. panel members often help each other by bringing up ideas for discussion that others
didn’t initially think of but that were important to them.
D. there will usually be one panel member who dominates the discussion and helps
keep the conversation focused.
E. panel members are highly defined demographically, so it is relatively simple to
replace an individual member without losing continuity.
Answer:
Personal selling requires the __________ flow of communication between a buyer and
a seller, often in a face-to-face encounter, designed to influence a person’s or a group’s
purchase decision.
A. direct
B. indirect
C. one-way
D. two-way
E. recursive
Answer:
Reference groups refer to
A. the relatively permanent, homogeneous divisions in a society that consists of people
who share similar values, interests, and behaviors.
B. individuals who exert direct or indirect social influence over others.
C. people to whom an individual looks to as a basis for self-appraisal or as a source of
personal standards.
D. those buyers who, through the size of their purchases, affect where marketing dollars
will be spent.
E. those with whom a person does not wish to be a member of or identified with.
Answer:
Figure 9-4
According to Figure 9-4 above, column A represents a(n)
A. spontaneous innovation.
B. continuous innovation.
C. discontinuous innovation.
D. dynamically continuous innovation.
E. evolutionary innovation.
Answer:
Promotional websites generate interest in and trial of a company’s products and services
by
A. providing access to human service representatives to assist in making purchases.
B. accommodating interactive communication initiated by a company’s employees,
investors, and suppliers.
C. converting online browsers into online buyers.
D. providing information on how items can be used and where they can be purchased.
E. obtaining information on customer preferences and buying habits.
Answer:
In terms of website design, connection refers to
A. the text, video, audio, and graphics that the website contains.
B. the website’s capabilities to enable commercial transactions.
C. the network of linkages between a company’s website and other sites.
D. the layout of the website.
E. the website’s ability to tailor itself to different users or to allow users to personalize
the website.
Answer:
Walmart and Home Depot emphasize consistently low prices and eliminate most
markdowns with a retail pricing strategy called
A. low-margin.
B. value based.
C. everyday low pricing.
D. everyday fair pricing.
E. markdown pricing.
Answer:
The type of business products known as support products includes installations,
supplies, accessory equipment, and __________.
A. complementary products
B. materials
C. industrial services
D. derived products
E. components
Answer:
Recently, McDonald’s offered collectable toys based on the characters of the
Nickelodeon cartoon TV show SpongeBob SquarePants for free with the purchase of a
Happy Meal. These toys are an example of a __________.
A. deal
B. premium
C. rebate
D. coupon
E. sample
Answer:
Figure 16-3
Figure 16-3 above shows the __________ web page for StuffDOT and the data
available for marketers to assess its performance and understand its users.
A. YouTube
B. Pinterest
C. Twitter
D. Facebook
E. LinkedIn
Answer:
The Limited employs a quick response system to order fast-moving fashion items. The
Limited’s point-of-sale scanner records each sale. When inventory falls below a
minimum level, the system automatically sends an electronic order to the manufacturer,
which processes the order immediately. This system has effectively reduced
A. dependability.
B. product flow.
C. replenishment time.
D. supply lag.
E. logistical lag.
Answer:
Feature bloat is
A. an exaggeration of a product’s performance capabilities.
B. the overcharging in price for a minor product enhancement.
C. the requirement of having consumers learn new behaviors with a continuous
innovation.
D. an excessive number of product attributes that overwhelms consumers with
unnecessary complexity.
E. the increase in package size when adding more content or making it larger (the mega
phenomenon).
Answer:
A brand community refers to
A. the relatively permanent, homogeneous divisions in a society that consists of people
who share similar values, interests, behaviors, and brands.
B. a specialized group of consumers with a structured set of relationships involving a
particular brand, fellow customers of that brand, and the product in use.
C. people to whom an individual looks to as a basis for purchasing particular brands.
D. those buyers who, through the size of their purchases, affect where marketing dollars
will be spent on a particular brand.
E. those brands with whom a person does not wish to be identified with.
Answer:
A sales promotion designed to encourage and reward repeat purchases by
acknowledging each purchase by a consumer and offering a premium as purchases
accumulate is referred to as
A. a merchandise deal.
B. a product enhancement.
C. a loyalty program.
D. retail positioning.
E. experiential decoding.
Answer:
Burroughs Wellcome is the developer and maker of AZT, which is a drug to treat
persons afflicted with AIDS. The firm charges each patient $6,500 annually, more than
many AIDS patients can afford. This is an example of the manufacturer adhering to its
A. utopian responsibility.
B. moral idealism.
C. social responsibility.
D. cause marketing strategy.
E. profit responsibility.
Answer:
In response to Duracell’s introduction of the Duracell Ultra battery, Energizer
introduced an Advanced Formula battery. But unlike Duracell, Energizer priced its
batteries at a low initial price to attract the mass market. In this case, Energizer used
A. penetration pricing.
B. prestige pricing.
C. skimming pricing.
D. price lining.
E. cost-plus fixed-fee pricing.
Answer:
Saks Fifth Avenue is an upscale retailer that offers designer brand women’s apparel,
fragrances, jewelry, and leather accessories. The retailer relies on superior service to
sell its products and to retain its customers. Saks Fifth Avenue would be classified as
a(n) __________.
A. exclusive-service retailer
B. limited-service retailer
C. full-service retailer
D. premium-service retailer
E. complete-service retailer
Answer:
If you were to buy one peach tree and one apple tree from the Stark Bros. fruit trees and
landscaping catalog in two separate orders, you would pay a total of $109.99. However,
if you order the peach and apple tree in the same order, you pay only $89.99. When
selling the two trees together for a reduced price, what pricing strategy does Stark Bros.
employ?
A. product line pricing
B. prestige pricing
C. price lining
D. discount pricing
E. bundle pricing
Answer:
Recently, the United States imposed a 35% tariff on Chinese tire imports in hopes of
sustaining U.S. jobs in tire manufacturing. This addition of tariffs is an example of
A. imposing the rule of eminent domain.
B. increasing ethnocentrism.
C. enhancing domestic imperialism.
D. increasing protectionism.
E. slowing countertrade.
Answer:
An organization’s foundation can be broken into three key elements:
A. products, services, and ideas.
B. business definition, long-term goals, and short-term objectives.
C. board of directors, top management, and stakeholders.
D. corporate-level strategies, SBU-level strategies, and functional-level strategies.
E. core values, mission/vision, and organizational culture.
Answer: