Product managers:
A. Are especially common in large companies.
B. Are sometimes responsible for a product’s whole marketing effort.
C. Coordinate their efforts with individuals within and outside the company.
D. May serve as “product champions” in planning and implementing the promotion
effort.
E. All of these alternatives are correct.
A salesperson may have to make choices about
A. which particular products in the whole line to push most aggressively.
B. what specific target customers to aim at.
C. how to adjust prices.
D. which intermediaries to rely on or help.
E. All of these choices are correct.
A firm with a marketing orientation:
A. has little need for salespeople.
B. sells what it can make easily.
C. tries to determine customers’ needs before developing its product.
D. focuses advertising on product features.
In quantitative research, it is common for researchers to ask questions and offer a
variety of fixed answers from which to choose-such as multiple-choice questions. This
approach is advantageous for all the following reasons except:
A. responses can be summarized in percentages, averages, or other statistics.
B. it simplifies analysis of the replies.
C. it is more convenient for computer analysis.
D. respondents may reply faster and easier.
E. it limits the broad range of possible answers to ones envisioned by the researchers.
Which of the following observations is true of a mature market?
A. There is downward pressure on prices.
B. Profit margins are never under threat.
C. Differentiating the value a firm offers is easy.
D. Pricing choices are abundant.
E. Price moves up the demand curve over time.
Which of the following is NOT retailing?
A. A vacuum cleaner manufacturer hires its own sales force to sell door to door.
B. A private ambulance service takes an accident victim to a hospital and charges him
$100.
C. A group of students sell donuts to people passing by their dorm.
D. A book wholesaler has a mail-order catalog which offers discounts to final
consumers who buy by mail.
E. All of these are examples of retailing.
A national grocery store chain has decided to sell an assortment of hobby, gardening,
and cook books. Buyers in the chain’s main office are not certain what to stock because
they think that consumers in different areas of the country will probably be interested in
different books. The store managers have said they don’t know what to order either. The
chain should probably get help from a
A. broker.
B. cash-and-carry wholesaler.
C. specialty wholesaler.
D. rack jobber.
E. manufacturers’ agent.
In a marketing plan, which of the following would not be included in the Promotion
area?
A. Advertising.
B. Packaging.
C. Personal selling.
D. Sales promotion.
E. Publicity.
Price lining:
A. is quite similar to prestige pricing.
B. can simplify both buying and selling.
C. tends to reduce turnover rates.
D. results in larger inventories.
E. All of these alternatives are correct.
The process of naming broad product-markets and then segmenting them in order to
select target markets and develop suitable marketing mixes is called:
A. Market penetration.
B. Market segmentation.
C. Market development.
D. Market research.
E. Market pioneering.
Which of the following are NOT true about a firm practicing the marketing concept?
A. Everyone in the organization focuses on satisfying customers.
B. Offering superior customer value attracts customers.
C. Satisfying customers leads to customers defecting to the competition.
D. Firms build profitable customer relationships.
E. All of these are true.
Working capital may be used to pay for:
A. what a firm owes suppliers.
B. what it costs to store inventory.
C. employee salaries.
D. marketing research.
E. All of these.
In the factory, _____ show the purpose for which expenditures are made.
A. natural accounts
B. live accounts
C. functional accounts
D. defined accounts
E. deferred accounts
Cady ClayWorks offers its customers a 10 percent discount if they buy at least $200,000
worth of products during a year. The products may be bought in one orderor spread out
over several orders. Cady ClayWorks is offering a:
A. cumulative quantity discount.
B. brokerage allowance.
C. seasonal discount.
D. noncumulative quantity discount.
E. cash discount.
In its efforts to support new-product development ideas within its own company,
Google allows its employees to spend _______ percent of their time each week thinking
about new product ideas, even if the ideas are not related to the employees’ specific
jobs.
A. 5
B. 10
C. 15
D. 20
E. 25
All of the following publicity tools are examples of one-way communication from a
company to consumers or business customers EXCEPT:
A. videos.
B. blogs.
C. podcasts.
D. case studies.
E. games.
A major difference between reminder advertising and pioneering advertising is that:
A. reminder advertising focuses on selective demand, while pioneering advertising tries
to develop primary demand.
B. reminder advertising is less likely to use ‘soft sell” ads.
C. reminder advertising is emphasized in the early stages of the product life cycle.
D. pioneering advertising is emphasized in the later stages of the product life cycle.
E. None of these alternatives is true.
Identify the correct sequence in the marketing research process.
A. Analyzing the situation, getting problem-specific data, interpreting the data, defining
the problem, solving the problem.
B. Analyzing the situation, defining the problem, getting problem-specific data,
interpreting the data, solving the problem.
C. Defining the problem, analyzing the situation, getting problem-specific data,
interpreting the data, solving the problem.
D. Getting problem-specific data, interpreting the data, analyzing the situation, defining
the problem, solving the problem.
E. Getting problem-specific data, interpreting the data, defining the problem, solving
the problem, analyzing the situation.
“Promotion” may include:
A. personal selling to channel members.
B. point-of-purchase materials.
C. mail-order selling.
D. advertising on the Internet.
E. all of these may be included in Promotion.
Henry has classified the following items under variable costs. Which item has he
classified incorrectly?
A. Expenses for parts
B. Wages
C. Outgoing freight
D. Property taxes
E. Packaging material expense
The text argues that MACRO-marketing in the United States:
A. costs too much because many consumers are dissatisfied.
B. is a growing concept.
C. does not cost too much.
D. tends to decrease consumer welfare.
E. costs too much because satisfying consumers costs too much.
The “total profit” approach to evaluating possible product-market strategic plans:
A. is the best approach to use.
B. cannot be used to compare possible plans unless they are very similar.
C. may support a plan that is not the most profitable in the short run.
D. requires only sales forecasts for the life of possible plans.
The challenges of matching supply and demand often occur when a marketing plan
calls for:
A. an international roll out instead of a regional roll out.
B. quick expansion into many different types of channels.
C. simultaneously expanding into many different market areas rather than expanding
into one market after another.
D. Any of these would increase the challenge of matching supply and demand.
E. None of these.
A company has total fixed cost of $400,000. Its fixed- cost contribution per unit is
$10.00, and its price per unit is $5.00. What is the break-even point in sales dollars?
A. $200,000.
B. $2,000,000.
C. $4,000,000.
D. $800,000.
E. Cannot be determined from the information provided.
Which of the following is(are) TRUE?
A. A ‘service mark” is to a service what a “trademark” is to a physical good.
B. “Trademark” refers to all means of product identification.
C. A “trademark” must be attached to a product to be legally protected.
D. “Trademarks” and ‘service marks” must be words.
E. None of these alternatives is TRUE.
A trade discount is also called a _____.
A. cumulative quantity discount
B. noncumulative quantity discount
C. seasonal discount
D. stock discount
E. functional discount
_______ is defined as the performance of activities that seek to accomplish an
organization’s objectives by anticipating customer needs and directing a flow of
need-satisfying goods and services from producer to customer.
A. Innovation
B. Advertising
C. Selling
D. Marketing (from a micro view)
E. Sales promotion
To meet the new competition, prices of the old products usually
A. drop.
B. remain unchanged but interest in the product is renewed with vigorous advertising.
C. increase.
D. are supplemented with coupons.
E. increase while being offset with discounts and coupons.
Which of the following statements regarding marketing strategies is FALSE?
A. It is useful to think of the marketing strategy planning process as a narrowing-down
process.
B. These strategies must meet the needs of target customers, and a firm is likely to get a
competitive advantage if it just meets needs in the same way as some other firm.
C. Developing successful marketing strategies doesn’t need to be a hit-or-miss
proposition.
D. These strategies require decisions about the specific customers the firm will target
and the marketing mix the firm will develop to appeal to that target market.
E. Most companies implement more than one marketing strategy and related marketing
plan at the same time.
Marketing cost analysis is often not given enough importance because:
A. accountants show little interest in their firm’s marketing process.
B. marketing costs are rarely significant.
C. marketing costs don’t have financial objectives.
D. marketing costs don’t have a clear purpose.
E. IT managers don’t understand the different marketing activities.