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Consumer advocates believe the practice of downsizing by consumer products firms has
resulted in __________.
A. lower product prices for consumers because of lower labor, raw material, and
packaging costs
B. a greener environment due to the reduction in the amount of packaging, thereby
reducing the amount of waste disposed in landfills
C. fewer product choices for consumers that led to rising prices
D. keeping prices from rising in response to the psychological barriers consumers have
developed for downsized products
E. a subtle, deceptive, yet legal practice of disguising a price increase
Answer:
In the late 1950s and 1960s, television westerns were extremely popular. These
adventure shows had settings and costumes very unlike other shows of that time
(comedy, variety, crime, etc.). Popular programs included Gunsmoke, Bonanza, Wagon
Train, and The Big Valley. When ratings declined as viewers gradually stopped
watching this TV genre, the networks no longer wanted to produce and televise such
shows. The production companies used a(n) __________ strategy and stopped
production on all television westerns when the networks stopped showing them.
A. diversification
B. aggregation
C. divestiture
D. deletion
E. harvesting
Answer:
Figure 17-2
The sales process at Xerox typically follows the six stages of the personal selling
process. During the fourth stage, as the presentation begins, the salesperson
A. explains why competitor's products are inferior.
B. summarizes relevant information about potential solutions.
C. requests a meeting with the company gatekeeper.
D. requests a meeting with the official buyer to determine the possibility of a sale.
E. gets a signed document or confirmation of the sale.
Answer:
Organizational buyers are described as
A. only companies that purchase of raw materials and natural resources for
manufacturing.
B. employees who purchase household items for their personal use.
C. any individual or group making a purchase worth over $100,000.
D. manufacturers, retailers, or government agencies that buy products for their own use
or for resale.
E. any organization who uses products purchased or meant for a household.
Answer:
American Hospital Supply helps its customers (hospitals) manage inventory and
streamline order processing for hundreds of medical supplies. The source of American
Hospital Supply's power is its
A. economic influence.
B. expertise.
C. identification with a particular channel member.
D. legitimate rights through contracts.
E. governmental contracts.
Answer:
The key difference between the traditional marketplace and the new marketspace is that
the latter is a(n) __________ exchange environment.
A. tangible
B. analog
C. physical
D. material
E. digital
Answer:
Which type of contractual vertical marketing system involves small independent
retailers forming an organization that operates a wholesale facility cooperatively?
A. retailer-sponsored cooperative
B. service-sponsored retail system
C. administered cooperative system
D. manufacturer-sponsored cooperative
E. wholesaler-sponsored voluntary chain
Answer:
The key goal for retailers in the accelerated development phase of the retail life cycle is
to
A. recover start-up costs.
B. establish a dominant position in the fight for market share.
C. delay entering the decline stage of the retail life cycle.
D. find ways of discouraging customers from moving to low-margin, mass-volume
outlets.
E. establish a retail concept that is a sharp departure from existing competition.
Answer:
A nondurable good is defined as a(n)
A. item consumed in one or a few uses.
B. item that usually lasts over an extended number of uses.
C. item that lasts at least one year without becoming obsolete.
D. product purchased only for the use of ultimate consumers.
E. product used in the production of other products.
Answer:
Movie studios use market research to reduce their risk of losses by hiring firms like the
National Research Group to conduct test screenings and tracking studies. Often, 300 to
400 prospective moviegoers are recruited to attend a sneak preview of a film before its
release. After viewing the movie, the audience fills out an exhaustive survey to
A. evaluate the quality of directing and producing.
B. critique the title, plot, and characters.
C. rate the performances of the individual actors and actresses.
D. recall specific details of the plot and dialogue.
E. compare the final film with the original script.
Answer:
The two main types of data are
A. independent and dependent.
B. primary and secondary.
C. comprehension and case specific.
D. extraneous and experimental.
E. measurable and non-measurable.
Answer:
In marketing, each __________ consists of people who are relatively similar to each
other in terms of their consumption behavior.
A. market segment
B. demographic cluster
C. organizational buyer group
D. ultimate consumer group
E. qualified prospect group
Answer:
Information from a __________ is used to write a job description.
A. job analysis
B. salesforce compensation plan
C. sales plan
D. sales performance audit
E. personal performance plan
Answer:
Figure 4-1
In Figure 4-1 above, E represents which stage of the consumer purchase decision
process?
A. purchase decision
B. information search
C. financial transaction
D. alternative evaluation
E. postpurchase behavior
Answer:
Sellers view a solution as a customized and integrated combination of products and
services for meeting a customer's business needs. Buyers think of a solution to a
business problem as one that meets their requirements, is designed to uniquely solve
their problem, can be implemented, and
A. ensures follow-up.
B. can be evaluated.
C. is financially equitable.
D. is ethical.
E. is sustainable.
Answer:
Because consumers often do not pay close attention to advertising messages, advertisers
want to reach the same audience more than once. This means that advertisers are
concerned with __________.
A. frequency
B. CPM
C. reach
D. rating
E. gross rating points
Answer:
Speed or __________ is often vital in introducing a new product.
A. perpendicular development
B. time to market
C. red tape cutting
D. fast concepting
E. delivery expediting
Answer:
In a BCG growth-share matrix, a relative market share of 10x at the left end of the scale
on its horizontal axis means that the SBU has 10 times the share of its largest
competitor, whereas a relative market share of 0.1x at the right end of the scale on its
horizontal axis means that
A. the SBU has only 10 percent of the share of its average competitor.
B. the SBU has 100 percent of the share of its largest competitor.
C. the growth rate between the SBU and the next largest competitor is actually
identical.
D. the SBU has only 10 percent of the share of its largest competitor.
E. the industry growth rate is declining.
Answer:
Figure 8-1
In Figure 8-1 above, C represents which stage of the market segmentation process?
A. link needs to actions
B. identify market needs
C. establish a marketing protocol
D. execute marketing program actions
E. segment and select the target markets
Answer:
Users of NYTimes.com can peruse the book review section and click on a link to
Barnes & Noble to order a book or browse related titles that was reviewed.
NYTimes.com effectively uses the __________ website design element.
A. convenience
B. control
C. connection
D. community
E. communication
Answer:
Which of the following statements is an example of place utility?
A. airlines that allow you to print your own boarding pass at home
B. a service station that adds a diesel fuel pump to its three unleaded gasoline pumps
C. a mobile phone company that offers six-month financing, same as cash
D. cold cut packages that can be zipped close for reuse
E. an iPhone with a "multitouch" user interface for easy navigation
Answer:
Which of the following laws has the purpose of protecting competition?
A. Prevention and Enforcement Act
B. Clayton Act
C. Federal Trade Commission Act
D. Fair Trade Act
E. Unfair Practices Act
Answer:
Which one of the following is a value that would be commonly held in the United
States today?
A. individualism
B. tradition
C. group welfare
D. nostalgia
E. acceptance of birthright
Answer:
A practice whereby one firm's marketing channel is used to sell another firm's products
is referred to as __________.
A. dual distribution
B. cooperative distribution
C. an integrated channel alliance
D. a multichannel venture
E. a strategic channel alliance
Answer:
In a recent issue of AARP The Magazine, a print ad for State Farm Insurance annuities
advises readers that "The company has helped you enjoy your time with the kids and it
can now help you enjoy your time without them." The ad is most likely targeted toward
which generational cohort?
A. Generation X
B. baby busters
C. Generation Y
D. the greatest generation
E. baby boomers
Answer:
Market development refers to the marketing strategy of
A. increasing sales of current products in current markets.
B. selling new products to new markets.
C. selling new products to current markets.
D. selling the same brands in both current and new markets.
E. selling current products to new markets.
Answer:
Walmart's marketing strategy is to be a reliable, lower-price retailer for a wide variety
of mass consumption consumer goods. This strategy favors a(n) __________ designed
to deliver products to consumers at the lowest possible cost.
A. integrated supply chain
B. global supply chain
C. efficient supply chain
D. responsive supply chain
E. customer service supply chain
Answer:
The most recent estimate indicates that the population of the world today is about
__________.
A. 5.0 billion
B. 6.3 billion
C. 7.1 billion
D. 7.9 billion
E. 9.5 billion
Answer:
Figure 18-2
Consider Figure 18-2 above. C refers to which of the following website design
elements?
A. context
B. content
C. commerce
D. customization
E. connection
Answer:
In the communication process, noise refers to
A. any unsolicited response from consumers or potential consumers regarding a
company's message.
B. any communication with consumers who are not in the target audience.
C. extraneous factors that can work against effective communication by distorting a
message or the feedback received during the communication process.
D. the use of colors, words, sounds, or images that make an otherwise simple message
more complex.
E. a unique set of terms, expressions, or jargon that carries a specific meaning within a
specific field (i.e. the medical profession, legal profession, etc.).
Answer:
There are five common approaches to posttests: aided recall, unaided recall,
__________, inquiry tests, and sales tests.
A. exposure tests
B. attitude tests
C. performance tests
D. jury tests
E. comparison tests
Answer:
A(n) __________ involves starting with the last known value of the item being forecast,
listing the factors that could affect the forecast, assessing whether they have a positive
or negative impact, and making the final forecast.
A. direct forecast
B. lost-horse forecast
C. lost-cause forecast
D. indirect forecast
E. incremental forecast
Answer:
Evaluating the results of a marketing decision involves
A. asking prospective customers if they are likely to buy the product during a specified
future time period.
B. requesting the firm's salespeople to estimate sales during a coming period.
C. collecting data from marketing experts about changes in the environment.
D. collecting projections from all regional sales managers and making projections based
on a region to region basis.
E. monitoring the marketplace to determine if action is necessary in the future.
Answer:
Walmart reduced waste in packaging by 3,500 tons by __________.
A. purchasing more merchandise from U.S. manufacturers
B. requiring its toy suppliers to trim one square inch of packaging from their lines
C. shipping with airline carriers which provide superior handline
D. identifying products that can be shipped without packaging materials
E. using natural gas-powered delivery vehicles that reduce emissions
Answer:
Figure 14-1
Figure 14-1 above depicts the communication process, which consists of ten key
elements (Boxes A through J). Identify and briefly describe each of the ten elements.
Answer:
A nonprofit food bank was handing out food to anyone who requested it on a weekly
basis. It now wants to give free food only to people who go hungry on a daily basis.
This will be the market segment it targets. How does the formation of its market
segments differ from the strategy used for a retail store?
Answer:
Briefly explain what a marketing experiment is. Include the definitions of dependent
and independent variables and give examples of each.
Answer:
Describe two potential problems associated with transactional websites.
Answer:
What is neuromarketing? What does it do? Why is it important to marketers?
Answer:
What is the purpose of the evaluation phase of the strategic marketing process? How is
it accomplished?
Answer:
List and briefly describe the four forms of institutional advertising.
Answer:
Explain the difference between marketing synergies and product synergies.
Answer:
What is the difference between and EDLP retailer and a High-Low retailer? Why does
Carmex charge them a different price?
Answer:
Why is learning important to marketing?
Answer:
What is idea generation in the new-product process? From where do forward thinking
marketers get their ideas?
Answer:
What are the strengths/advantages and weaknesses/disadvantages of using advertising
in the promotional mix?
Answer:
Briefly describe the two general types of franchises. Give an example of each.
Answer:
Describe the concept of diffusion of innovation. Identify the category and incidence in
the population for each product adopter.
Answer:
Define the moral philosophy of utilitarianism and explain its relationship to capitalism.
Answer:
What are the steps to develop an advertising program?
Answer:
What is standard markup pricing and when would it be used?
Answer:
What is the abridged American Marketing Association definition of marketing
according to the textbook? How does this differ from your previous notion of marketing
before beginning this course?
Answer:
