Connectivity refers to a customer’s ability to regulate the information that is viewed.
a. True
b. False
Demand for a business product is when two or more items are used in combination to
produce a product.
a. inelastic
b. joint
c. fluctuating
d. derived
e. partnered
Brand preference is a degree of brand loyalty in which a customer definitely prefers one
brand over competitive offerings and will purchase this brand if available.
a. True
b. False
A competitive advantage exists when a:
a. firm matches a core competency to opportunities it has discovered in the
marketplace.
b. firm compares the quality of its goods, services, or processes with that of its
best-performing competitors.
c. combination of circumstances and timing allows a firm to reach an attractive target
market.
d. firm observes a fit between the key requirements of a market and its own capabilities.
e. firm has a strong marketing plan.
What is the major difference between social responsibility and marketing ethics?
a. Marketing ethics varies by industry whereas social responsibility involves universal
rules of conduct.
b. There is legislation that deals with marketing ethics, but none for socially responsible
practices.
c. Marketing ethics is concerned with organizational practices, and social responsibility
is concerned with individual behavior.
d. There is no difference; they are synonymous terms.
e. Social responsibility deals with the total effect of marketing decisions on society,
whereas marketing ethics relates to individual and group evaluations in marketing
situations.
The three major categories of influences on the consumer buying decision process are:
a. situational influences, demographic influences, and psychological influences.
b. social influences, situational influences, and marketer-dominated influences.
c. demographic influences, situational influences, and marketer-dominated influences.
d. situational influences, social influences, and psychological influences.
e. marketer-dominated influences, psychological influences, and person-specific
influences.
In product modification, three conditions must be met to improve a firm’s product mix:
the product must be modifiable, customers must be able to perceive that a modification
has been made, and:
a. the modification should make the product more consistent with customers’ desires.
b. competing companies should not be aware of planned product modifications.
c. management must avoid functional modifications in the product to evade any risk
associated with the safety element of the modified product.
d. management must essentially enhance the modified product’s quality and lower its
price to increase its
customer base.
e. resources needed for product modification should be limited in order to lower
production costs.
Often, the Delphi technique is used in conjunction with an expert forecasting survey.
The major objective is to:
a. allow an opportunity to obtain diverse expert opinions.
b. allow experts to work separately to reach a consensus as to their forecasts.
c. reach an accurate sales forecast through the use of multiple sales forecasting
techniques.
d. determine if the expert forecasting survey is superior to regression analysis.
e. assess the extent to which this year’s sales forecast is more accurate than that of
previous years.
Which of the following lists forms of competitive advertising?
a. Pioneer, comparative, and reminder advertising
b. Reminder, repetitive, and reinforcement advertising
c. Comparative, reminder, and reinforcement advertising
d. Institutional, product, and comparative advertising
e. Product, pioneer, and reminder advertising
Communication is a sharing of meaning.
a. True
b. False
According to President Kennedy’s consumer bill of rights, the right to choose means
that:
a. consumers’ interests will receive full and sympathetic consideration in the
formulation of government policy.
b. consumers should have access to a variety of products and services at competitive
prices.
c. consumers should have access to and the opportunity to review all relevant
information about a product before buying it.
d. marketers have an obligation not to knowingly market a product that could harm
consumers. e. consumers should be able to buy products at prices they are willing to
pay.
The first component of a marketing plan is the SWOT analysis.
a. True
b. False
Successful business organizations should take actions to convert internal weaknesses
into .
a. strategies
b. threats
c. opportunities
d. core competencies
e. strengths