Price, promotion strategy, and channels of distribution are examples of _____.
A. marketing dimensions
B. marketing trends
C. product features
D. product attributes
Answer:
Which of the following is a benefit wholesalers bring to manufacturers?
A. They reduce potential losses by assuming risks.
B. They increase the product alternatives available in local markets.
C. They reduce retail prices by the effectiveness contributed to the channel.
D. They provide information about industries and other retailers.
Answer:
Sashes and Bows Inc., a clothing company headquartered in Milan, specializes in
producing exquisite designer wear. All the materials are sourced indigenously, and all
the members of the design team are of Italian descent. According to Michael Porter’s
model, Sashes and Bows has established a competitive advantage over its rivals because
of:
A. favorable demand conditions.
B. a good company strategy and structure.
C. the presence of related and supporting industries.
D. favorable factor conditions.
Answer:
Which of the following statements is true of a positioning map?
A. It is a mathematical estimate of the rate at which new products will have to be
developed to maintain control over the market share.
B. It is a written document outlining the marketing research study that was undertaken
before the launch of a new product.
C. It is a type of documentation used by the U.S. Department of Commerce to create a
geodemographic model of the nation.
D. It is a visual description of customers’ perceptions of competitive products, brands,
or models.
Answer:
Three important criteria on which to base segmentation strategy decisions are that a
viable segment must be:
A. continual, presentable, and restricted.
B. measurable, meaningful, and marketable.
C. political, cultural, and assured.
D. prestigious, non-deceptive, and profitable.
Answer:
The estimated production and sales for a coffee table book on celebrity gardening is
10,000 volumes at a total cost of $100,000. Calculate the sales price for each book if the
publisher desires a before-tax return of 25 percent.
A. $12.50
B. $15.00
C. $18.75
D. $10.00
Answer:
Rebates and refunds are a form of consumer promotion where:
A. customers are offered regular trial sizes of the product either free or at a nominal
price.
B. additional amounts of the product are given to buyers when they purchase the
product.
C. customers are offered discounts from the product’s regular price.
D. customers are given reimbursements for purchasing the product either on the spot or
through mail.
Answer:
What does the horizontal dimension of the VALSâ„¢ framework represent?
A. Degree of innovativeness
B.
C. Consumer needs
D. Primary motivation
Answer:
Which of the following stages of new product development process involves expanding
viable ideas into full product concepts?
A. Project planning
B. Idea generation
C. Product development
D. Idea screening
Answer:
_____ are channels in which members are more dependent on one another and develop
long-term working relationships in order to improve the efficiency and effectiveness of
the system.
A. Channel integration systems
B. Vertical marketing systems
C. Parallel marketing channels
D. Systemic marketing channels
Answer:
Which of the following is an ethical and legal concern directly associated with
advertising?
A. Failing to disclose product limitations or safety concerns
B. Using unauthorized mailing lists to reach consumers
C. Encouraging materialism and excessive consumption
D. Using economic power to gain favorable publicity
Answer:
Which of the following approaches for determining key market dimensions would be
useful in the case of segmentation for entirely new products?
A. An a priori approach
B. A post hoc approach
C. An empirical approach
D. A cross-functional approach
Answer:
Which of the following products or services is most likely to be distributed through an
indirect channel?
A. Smartphones
B. Complex medical equipment
C. Tropical flowers
D. Computer systems
Answer:
Which of the following is true of brokers?
A. They typically assume title risks to a product.
B. They usually have physical custody of products.
C. They are looked upon as permanent representatives of both buyers and sellers.
D. They serve as go-betweens for a buyer or a seller.
Answer:
A _____ refers to a group of products that share common characteristics, distribution
channels, customers, or uses.
A. product variant
B. product portfolio
C. product line
D. product matrix
Answer:
While shopping for books and videotapes, Freda, usually a cheerful girl, selects the
book “Happy Hours” from the bookshelf because she was feeling depressed and wanted
to read something that would cheer her up. Which of the following situational
influences guided Freda’s purchasing decision?
A. Time factors
B. Current conditions
C. Task features
D. Social features
Answer:
Konnectz Inc. plans to launch the latest version of its smartphone. As part of its market
research and pricing strategy, it takes into account the economic buying potential of its
target consumers and their locations. Which of the following factors influencing pricing
decisions is Konnectz primarily concerned with in this scenario?
A. Psychological factors
B. Environmental influences
C. Demographic factors
D. Product characteristics
Answer:
In context of the problems faced when entering foreign markets, which of the following
refers to political uncertainty?
A. Differences in communication, spatial boundaries, perception of time, and behavior
B. Unstable governments, social unrest, and armed conflict
C. Differences in language, customs, norms, and customer preferences
D. Economic conditions and policies of a country that could harm a firm’s operations
within a country
Answer:
Convenience goods, shopping goods, and specialty goods are the three classes of
_____.
A. agricultural goods
B. complementary goods
C. organizational goods
D. consumer goods
Answer:
According to the VALSâ„¢ framework, consumers who are driven by a goal of
demonstrating success to their peers and are motivated primarily by achievement can be
best classified as _____.
A. Strivers
B. Makers
C. Believers
D. Thinkers
Answer:
In framing the channel selection decision, which of the following considerations
pertains to an intermediary’s characteristic?
A. Purchasing patterns of the intermediary
B. Financial condition of the intermediary
C. Political issues
D. Technological changes
Answer:
Distribution allowances are typical examples of _____.
A. push strategies
B. pull strategies
C. mixed promotional strategies
D. profile strategies
Answer:
A retail cooperative organization, a wholesaler-sponsored voluntary chain, and various
franchising programs are the three major types of _____ vertical marketing systems.
A. administered
B. contractual
C. structured
D. corporate
Answer:
The first step in controlling an implemented marketing plan is:
A. comparing the results of the marketing plan with the objectives.
B. deciding whether the marketing plan is achieving the objectives.
C. formulating a new marketing plan.
D. measuring the results of the marketing plan.
Answer: