Accounts payable and accounts receivable are both examples of ________.
A. financial statements
B. copy tests
C. CRM metrics
D. marketing metrics
E. data analytics
By definition, a(n) ________ is a community, nation, or group that shares common
traditions, institutions, activities, and interests.
A. market
B. society
C. environment
D. marketplace
E. corporation
Of the following, which purchase funnel stage is the broadest?
A. shopping
B. familiarity
C. intention
D. loyalty
E. purchase
Franchising is a form of ________.
A. importing
B. contract manufacturing
C. licensing
D. joint venture
E. direct investment
Paul DeMairo is identifying key performance indicators to be tracked and analyzed
through his company’s CRM program. Which of the following would Paul be LEAST
likely to include as a key performance indicator?
A. average revenue per customer
B. customer lifetime value
C. cost to acquire a new customer
D. cost to retain a channel member
E. cost to retain a current customer
Which of the following risks is most closely associated with the strategy of brand
extension?
A. brand flanking
B. counterfeiting
C. controlling the use of an image owned by the company
D. negotiating a relationship with a brand ally
E. losing focus of the core positioning of the brand
Which of the following is LEAST likely to happen at a full-service retailer?
A. Customers have access to alteration services.
B. Gift wrapping services are offered.
C. Customers seek and receive helpful guidance from trained sales associates.
D. Customers handle their own checkout process.
E. Product consultants are available to answer specialized questions.
Which of the following statements best explains why idea screening may be the most
important step of new product development?
A. It increases the number of ideas generated.
B. Some potentially profitable ideas may be ill perceived by the idea screeners.
C. Some ideas that will become market disasters may be originally viewed favorably by
the idea screeners.
D. It gives research and development team members an opportunity to gather consumer
feedback.
E. It saves the company money in product development costs by giving the green light
to only the product ideas that are likely to be profitable.
Of the following presidents, who is most closely associated with the Consumer Bill of
Rights?
A. Ronald Reagan
B. Jimmy Carter
C. John F. Kennedy
D. George W. Bush
E. Bill Clinton
Which of the following is NOT a tool used to help manage marketing accountability?
A. optimization models
B. planning
C. interval scales
D. CRM software
E. forecasting
Vast numbers of consumers are aware of your product. It is now your goal to enhance
preference for your product. You plan to use nonpersonal communications through print
media. This will include all of the following EXCEPT ________.
A. newspapers
B. magazines
C. banner advertising
D. flyers
E. signs
In marketing terms, B2B stands for ________.
A. buyer-to-buyer
B. buyer-to-business
C. business-to-buyer
D. business-to-business
E. bank-to-business
The ________ of a business is made up of all the activities that occur within the
organizational functions of the business.
A. marketing environment
B. internal environment
C. microenvironment
D. macroenvironment
E. external environment
Drop shippers do all of the following EXCEPT which one?
A. take title to the merchandise
B. take actual possession of the merchandise
C. take orders from retailers and industry buyers
D. bill retailers and industry buyers
E. carry bulk products such as coal or timber
Which of the following has been the traditional way to measure the success or failure of
a business?
A. environmental sustainability
B. adherence to marketing ethics
C. benefits provided to society
D. profitability
E. level of global marketing
Monsanto operates in many businesses, including pharmaceuticals and food products.
The company declares it wants to create “abundant food and a healthy environment.”
This statement is an example of a ________.
A. marketing strategy
B. business plan
C. business portfolio
D. tactical plan
E. business mission
Which of the following is an example of a need?
A) Cara prefers working out at an indoor gym.
B) Aisha feels connected when she has her cellphone on.
C) Adam is hungry.
D) Shul has to complete his essay for tomorrow’s class.
E) Oliver is looking for a new pair of Nike running shoes.
A ________ is a group of consumers a business has identified as the most viable for its
product or service.
A. business market
B. target market
C. marketing mix
D. marketing strategy
E. marketing audit
When the value of a country’s imports exceeds the value of its exports, the country has
a(n) ________.
A. industrial economy
B. exchange control
C. trade surplus
D. trade deficit
E. post-industrial economy
Refer to the scenario below to answer the following questions.
Carol Veldt, owner of Seagull Terrace, watched her investment grow from a small,
seaside motel to a thriving year-round resort in just a few years. Atop a bluff
overlooking the Maine coast, Seagull Terrace had attracted thousands of visits during
the summer months, but then faced a tremendous downturn in business during the
winter months. “But, given the industry in the nearby towns, very little year-round
competition, and our close proximity to Portland,” Carol added, “I couldn’t understand
why seasonality had to hit Seagull Terrace so hard!”
So Carol spent her first winter devising a new marketing plan. She put together a
promotional package designed to attract business travelers year-round. Carol’s plan
involved a seasonal promotional gimmick to be implemented from early winter to late
spring that would attract the same numbers as the large summer crowd. Her idea
worked! During her second winter, Carol greeted numerous business travelers both
satisfied repeat guests as well as new guests who had been snagged by her promotional
appeals.
“We still have a long way to go,” Carol admitted. “Our delicatessen offers delicious
entrees, but we’d like to expand that. We provide health club privileges off-site, but we’d
like to eventually provide our own. These are goals I hope to achieve in a few years.
Our first project, however, included a renovation of our guest rooms and I’m quite
proud of the results.” Carol then added, “Actually there are so many possibilities! With
an indoor pool area, I will eventually offer weekend get-aways throughout the winter.”
By offering a discount to visitors from early winter to late spring, Carol changed the
________ of a stay at Seagull Terrace.
A. perceived benefits
B. perceived costs
C. actual benefits
D. retail value
E. secondary costs
Level of quality, features, functions, and design are all examples of ________.
A. core benefits
B. product attributes
C. levels of a product
D. product mixes
E. product utility
A ________ maintains inventory for a company in different geographic areas, while a
________ carries no inventory but provides selling services for specific geographic
areas.
A. manufacturers’ showroom; sales branch
B. sales branch; sales office
C. sales branch; manufacturers’ showroom
D. manufacturers’ showroom; drop shipper
E. selling agent; manufacturers’ agent
Which of the following descriptions most accurately characterizes members of
Generation Y in comparison to members of Generation X?
A. They have more established careers.
B. They are more immersed in social media.
C. They are eligible for AARP membership.
D. They control the majority of American financial assets.
E. They are a faster-growing segment of the population.
When a group of consumers refuses to do business with a company in order to show
disapproval of the company’s actions and to encourage the company to change, the
consumers are participating in a(n) ________.
A. regulation
B. boycott
C. nongovernmental organization
D. exaggerated claim
E. sustainability effort
Which of the following is NOT part of the business market?
A. Scott Sign Systems sells interior signs to an Alabama resort.
B. A municipal government buys chemicals for its city swimming pools.
C. Sue buys a gift for her mother.
D. A Canadian software company buys tickets to send a group of salespeople to make a
presentation to a heavy equipment manufacturer in Japan.
E. Airmark sells a vinyl printing press to a manufacturer of plastic bags.
Which of the following is NOT an example of a demographic segmentation variable?
A. lifestyle
B. income
C. ethnicity
D. gender
E. age
A marketer would be most likely to use information from a BCG growth-market matrix
in which section of a marketing plan?
A. measurement and controls
B. company description, purpose, and goals
C. forecasting
D. marketing situation
E. executive summary
AMF Research Group must guard against problems during the phase of conducting
marketing research for its clients. Which of the following is NOT a problem that should
be anticipated for data collected through interviews during this phase?
A. interviewers who incorrectly record responses
B. respondents who give deceitful answers
C. interviewers who do not consistently execute the survey
D. analysts who interpret and report the findings
E. respondents who are confused by questions
Kristopher works for the marketing department of a large firm. His job involves using
information provided by the company’s CRM system to write email and text messages
to customers that appeal to their specific needs and characteristics. Kristopher is
involved in the ________ step of customer relationship management.
A. customer identification
B. customer authorization
C. customer differentiation
D. customer loyalty
E. customization
Financial services provider USAA sends materials about teaching teenagers how to
drive safely to USAA customers who have children approaching driving eligibility age.
USAA is using ________ information from a customer database to determine which
customers should receive the materials.
A. demographic
B. geographic
C. psychographic
D. behavioral
E. key contact