Which of the following would most likely be included in the written materials prepared
by PR professionals to reach and influence target markets?
A) employee code of conduct
B) annual reports
C) memorandum of association
D) advertisement jingles
E) white papers
Federal legislation on price fixing requires that sellers set their prices ________.
A) based on their fixed and variable costs
B) without communication from competitors
C) to achieve a specific profit margin
D) without the intention of cutting into competitors’ profits
E) consistently throughout a region
Kevin is a salesperson working for a company that manufactures gardening tools. He is
involved in door-to-door sales and travels every day to call on customers. In his
company, Kevin is most likely a part of the ________.
A) top management
B) inside sales force
C) product designing team
D) customer support team
E) outside sales force
James has decided to buy a new vehicle. His brother John has recently purchased a new
truck and recommends the same model to James. James finally decides to buy the same
truck. Which of the following sources of information has most likely influenced James’
purchase decision?
A) experiential sources
B) public sources
C) personal sources
D) commercial sources
E) market mavens
________ consists of short-term incentives to encourage the purchase of a product or
service.
A) Value selling
B) Conditional sale
C) Advertising
D) Sales promotion
E) Benchmarking
Neutron Inc. is conducting a business analysis to determine which of the many newly
developed apps should be released. To estimate sales, the company must ________.
A) conduct surveys of competitors
B) exclusively consider the government’s opinions
C) consider the sales history of similar products
D) apply the PLC concept to industry sales
E) opt for business process reengineering
Marketers are most effective when they appeal to ________ rather than when they
________.
A) short-term needs; focus on long-term needs
B) teenagers; target older people
C) existing wants; attempt to create new ones
D) emotions; appeal to actual needs
E) the mass market; appeal to market segments
Rather than challenging head on, a challenger can make a(n) ________ attack on the
competitor’s weaknesses or on gaps in the competitor’s market coverage.
A) bypass
B) frontal
C) indirect
D) guerrilla
E) pre-emptive
Persuasive advertising becomes ________ advertising when a company directly or
indirectly compares its brand with one or more other brands.
A) informative
B) reminder
C) attack
D) covert
E) institutional
Mansfield Pharmaceuticals markets Zipro, an antibiotic. The firm has fixed costs of
$1,000,000 and variable costs of $2 per bottle of 50 tablets priced at $10 per bottle.
What is the break-even volume?
A) 25,000
B) 55,000
C) 100,000
D) 115,000
E) 125,000
________ marketing is practiced by an organization that understands and anticipates
customer needs even better than customers themselves do and creates products and
services to meet current and future needs.
A) Customer-driven
B) Customer-driving
C) Affinity
D) Societal
E) Ambush
Which of the following are examples of close competitors?
A) Applebee’s and Subway
B) Taco Bell and T.G.I. Friday’s
C) Pizza Hut and Burger King
D) McDonald’s and Taco Bell
E) McDonald’s and Burger King
During portfolio analysis, a company ________ after identifying the key businesses that
make up the company.
A) formulates a short-term marketing plan
B) assesses the attractiveness of its various SBUs
C) assesses its strengths and weaknesses
D) performs a SWOT analysis
E) assesses the effectiveness of its various channel intermediaries
The marketing world is most likely embracing ________ because consumers wield
greater power now with many platforms for airing and sharing their brand views with
other consumers.
A) partner relationship management
B) supply chain management
C) customer-managed relationships
D) market segmentation
E) consumer ethnocentrism
From the economic system’s point of view, the role of ________ is to transform the
assortments of products made by producers into the assortments wanted by consumers.
A) upstream partners
B) marketing intermediaries
C) third-party logistics
D) price consultants
E) factory supervisors
Which of the following is NOT an accurate description of modern marketing?
A) Marketing is the creation of value for customers.
B) Marketing involves managing profitable customer relationships.
C) Marketing emphasizes selling and advertising exclusively.
D) Marketing involves satisfying customers’ needs.
E) Marketing is building value-laden exchange relationships with customers.
Refer to the scenario below to answer the following question.
The Attic Trunk opened in 1999 as an upscale dress shop in Forest Ridge’s fashionable
shopping district, catering to a wealthy, mature clientele consisting mostly of older,
first-generation Hispanics. Many other specialty shops lined the main avenue over the
next few years. But as Forest Ridge began to attract a more price-conscious, younger,
and more demographically diverse population, the once-popular shopping district was
increasingly perceived as stodgy and snobby by the new segment of customers.
By the mid-2000s, many of these specialty shops suffered financially. Most shops
attracted only tourists who enjoyed browsing through the displays of alligator belts and
shoes, piles of scented soaps, and so on, often laughing at the ridiculously high prices.
Owners of The Attic Trunk had noticed the shifts in buying behavior of customers by
the mid-2000s. In fact, the owners had observed that the once-fashionable shopping
district in Forest Ridge no longer attracted the wealthy, mature clientele. This clientele
had been replaced with price-conscious families with children, a mix of Asian and
African Americans as well as Caucasians.
Specialty items at The Attic Trunk gradually disappeared, replaced by brand-name
apparel, fashion accessories, and jewelry. Other owners followed suit in the late 2000s,
bringing restaurants, an outdoor cafe, and a day spa to the main avenue in Forest Ridge.
Which of the following best supports the idea that The Attic Trunk’s mature, wealthy
clientele can remain a viable target market?
A) Older, first generation Hispanic consumers are not especially family-oriented.
B) Older, first-generation Hispanic consumers favor sellers who show special interest in
them.
C) Older, first generation Hispanic consumers tend to be very price conscious.
D) Older, first generation Hispanic consumers tend to display little brand loyalty.
E) Older, first generation Hispanic consumers are motivated by mainstream marketing.
The sets of firms that supply companies with the raw materials, components, parts,
information, finances, and expertise needed to create products or services are known as
________.
A) retailers
B) upstream partners
C) distributors
D) downstream partners
E) distribution channels
Why might marketers use market-penetration pricing?
Explain why a public relations campaign can be a more cost-effective option for
corporations than an advertising campaign.
Describe the three decisions involved in designing a sample.
Why is reach an important measure for a marketer?
Explain why an ad might need to be modified from one country to the next.
Explain concept testing.
How does branding help buyers?
Why should marketers set up systems that encourage customers to complain about
products?
What do marketers gain from gathering and analyzing information about customers and
the needs and motivations of those customers?