All of the following are tactics for fine-tuning the base price EXCEPT:
a. functional discounts.
b. cash discounts.
c. rebates.
d. quality discounts.
e. quantity discounts.
Answer:
BoutiqueHotels
In an industry where guests are tired of cookie-cutter hotels, some consumers are
looking for personalized service, which can be found in boutique hotels. Boutique
hotels cater to their guests’ sense of their personal image as being discriminating, more
sophisticated, and more hip. Frequently, these guests don”t want to be where the crowds
are. This is a small but growing market niche. There are no generally recognized rules
for boutique hotels, but they tend to be small and service oriented, with high-style decor
and top-notch restaurants. Employees are called cast members. Amenities include
cordless phones, DVR players hooked up to HD televisions, Aveda brand bath and hair
products, and down comforters and pillows.
Refer to Boutique Hotels. The service provided by employees at boutique hotels cannot
be touched, seen, or felt in the same manner as the hair and bath products and can be
described as:
a. unknowable
b. tangible
c. intangible
d. credible
e. incomprehensible
Answer:
All of the following are common types of advertising appeals EXCEPT:
a. profit.
b. health.
c. admiration.
d. fear.
e. commitment.
Answer:
The foundation for the pyramid of corporate social responsibility is philanthropic
responsibility.
a. True
b. False
Answer:
SmellyFruit
At first glance, there is little to like about the durian. The durian is a fruit popular in
Thailand that is spiky outside and stinky on the inside. When confronted with the durian
for the first time, the WallStreet Journal recently reported that westerners often describe
its distinctive sulphurous smell with words like stinkysocksand manure. However, the
durian is so popular in Thailand that one variety of the durian fruit, called the Kan Yao,
has been selling for as high as $200. Even at that price, supply of the Kan Yao cannot
keep up with demand. There are approximately 30 varieties of the durian grown in
Thailand, with the most plentiful selling in the $15 range. The yellow flesh of the
durian, the part you eat, has very powerful smell but possesses a sweet, nutty taste that
Thais cannot seem to get enough of at any price.
Refer to Smelly Fruit. If it cost a Thai farmer $100 to produce and $25 to market the
Kan Yao durian that she sells for $200 at the marketplace, her revenue, for each durian
sold, would be:
a. $125
b. $200
c. $25
d. $100
e. $325
Answer:
_____advertising has the advantages of being both timely and geographically flexible.
a. Television
b. Newspaper
c. Outdoor
d. Magazine
e. Catalog
Answer:
If Charles Schwab Mutual Funds Investment Broker were to study its promotional
strategies by looking at sales trends and market research, it would be using direct
feedback to evaluate its promotional strategies.
a. True
b. False
Answer:
All of the following are recommended promotional strategies for services EXCEPT:
a. concentrating on franchising
b. stressing tangible cues
c. using personal information sources
d. creating a strong organizational image
e. engaging in postpurchase communications
Answer:
The publisher of Ebony magazine has forged an alliance with Dan River, Inc. to create
luxury bed and bath products for the newly developed Ebony Home brand. Ebony
Home will use the publisher’s long history and expertise to market to the African
American market. The African American market is the_____ for the Ebony Home
brand.
a. target market
b. buying center
c. aggregated unit
d. consumer cluster
e. demographic sampl
Answer:
All of the following have been identified as trends that will lead to the continuing
growth of CRM EXCEPT:
a. Time Savings
b. Personalization
c. Loyalty Marketing
d. Technology
e. Product Differentiation
Answer:
There are three general types of shopping bots: broad-based, niche-oriented, and
enterprise-level.
a. True
b. False
Answer:
A(n) ____ is a law that compels a company earning foreign currency from its exports to
sell it to a central bank rather than sending the money out of the country.
a. tariff
b. quota
c. fiscal prerequisite
d. exchange control
e. transfer barrier
Answer:
_____ is the marketing of goods and services to individuals and organizations for
purposes other than personal consumption.
a. Secondary marketing
b. Interactive marketing
c. Business marketing
d. High-level marketing
e. Industrial marketing
Answer:
Marketers are rediscovering that the “onesizefitsall” approach to marketing is still
relevant.
a. True
b. False
Answer:
Major equipment goods such as machines, mainframe computers, and buildings are also
referred to as:
a. investment goods
b. necessity goods
c. capital components
d. strategic goods
e. installations
Answer:
When a buyer pays a lower price for buying multiple units or above a specified dollar
amount for a single order, the buyer is receiving a _____ discount.
a. promotional
b. quantity
c. frequent buyer
d. functional
e. cumulative
Answer:
____ measures the number of target consumers exposed to a commercial at least once
during a specific period, usually four weeks.
a. Noise level
b. Frequency
c. Reach
d. Synchronization
e. Cost per contact
Answer:
Which is the last adopter category to adopt an innovation?
a. Late majority
b. Laggards
c. Late diffusers
d. Reluctant adopters
e. Traditionalists
Answer:
When salespeople use price as their go-to tool for negotiation, they may inadvertently:
a. decrease the value of the product.
b. increase the value of the product.
c. render price a nonissue.
d. reinforce product advertising.
e. None of the above.
Answer:
Laws and regulations of various governments and their ongoing development and
change are an example of ______ factors that are part of the external environment of all
organizations.
a. economic investment
b. political and legal
c. research and development
d. competitive
e. demographic
Answer:
A(n) ____ could help determine whether or not snacking consumers consider Kashi
Tasty Little Crackers healthy and tasty in comparison to other brands.
a. predictive model
b. perceptual map
c. product position
d. trend analysis
e. internal marketing audit
Answer:
When Universal Studios Japan opened, health inspectors discovered the theme park had
piped industrial-use water not suitable for drinking into its drinking fountains. The
problem was unanticipated and costly to repair. This is primarily an example of how
______ factors can cause a business to incur unexpected costs.
a. social
b. economic
c. competitive
d. cultural
e. political and legal
Answer:
Thompson Pools installs and maintains swimming pools. They group their customers
according to their needs: new installs, regular maintenance, and frequent product
consumers. When do they need a new segmentation analysis?
a. Once every 20 years
b. They should do them regularly because of the rapidly changing nature of most
markets.
c. They don”t need any because consumer markets don”t rapidly change and develop
like business goods markets.
d. Every year, using new bases for variety
e. Only when the market changes
Answer:
Last year, a single infield box ticket for an Atlanta Braves baseball game cost $40, but
fans who bought a season pass for the same seat got a reduced price. This $40 price was
a ____price.
a. base
b. zone
c. demand
d. channel leader
e. functional
Answer:
What is needed for sales management to be effective?
a. Impersonal relationships with customers.
b. A success-oriented sales force.
c. Relaxed sales objectives.
d. Extensive advertising campaigns.
e. Answers B and D.
Answer:
Retail establishments are generally classified according to all of the following
EXCEPT:
a. ownership
b. level of sales
c. level of service
d. price
e. product assortment
Answer:
All of the following are key factors in the distribution strategy for services EXCEPT:
a. customization
b. convenience for customers
c. number of intermediaries and outlets
d. scheduling of service deliveries
e. location
Answer:
Inner tension that a consumer experiences after recognizing an inconsistency between
behavior and values or opinions is referred to as:
a. cognitive dissonance.
b. psychological discomfort.
c. affect referral.
d. perceptual imbalance.
e. Dissatisfaction.
Answer:
The Beaumont Homeowner’s Association had to replace its pool pump. They asked two
local companies Thompson Pools and Southern Pool and Spa Companyfor quotes on
replacing the pump. Beaumont negotiated with both companies and quickly decided to
buy from Thompson Pools because its quote was $200 cheaper in its labor estimate.
Which evaluative criterion appears to have been most important in making this
purchase decision?
a. Price
b. Familiarity with the product
c. Reliability
d. The availability of replacement parts
e. Buyer/seller relationship
Answer:
Products in the latter stages of the product life cycle, which are advertised on a
reminder basis, use a(n) ___ media schedule.
a. intermittent
b. bursting
c. continuous
d. trailing
e. unremitting
Answer:
The DCS Stainless Steel Gas Grill for outside cooking costs $3,995. The market for a
grill that could easily replace a kitchen range is limited even though a lot of people have
seen articles about this grill in cooking magazines and in the cooking section of
newspapers. There is no potential competitor for this grill. The ____ strategy is
probably best.
a. price skimming
b. penetration pricing
c. status quo
d. cost bundling
e. price lining
Answer:
All of the following are examples of secondary data EXCEPT:
a. a first-time physical count of the number of cars passing through an intersection to
determine the need for a traffic signal.
b. a census report on the number of people who are native to a community.
c. any product testing results made available to the media.
d. a collection of trade journal articles about the future of a particular industry.
e. a newspaper story describing the lifestyle of the average Internet user.
Answer:
Lead qualification involves determining whether a prospect has:
a. a recognized need, buying power, and a willingness to see a salesperson.
b. any interest in a product.
c. a real or imagined need for a product.
d. any resources.
e. a line membership in the company’s buying center.
Answer:
The majority of Hispanic Americans are of ______ descent.
a. Mexican
b. Puerto Rican
c. Spanish
d. South American
e. Cuban
Answer:
Leader pricing is used to:
a. attract customers to a store so they can be persuaded to buy a more expensive product
instead.
b. bundle products together for sale.
c. attract customers to the store so they will buy other products in addition to the leader
product.
d. price products at odd-numbered amounts to stimulate demand.
e. maintain a status quo pricing strategy.
Answer: