Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
A marketing manager should seek help from research only for problems where the risk
of a decision can be greatly reduced at a reasonable cost.
Answer:
Internet retailers don't need to develop whole marketing strategies due to their
self-service nature.
Answer:
One reason personal selling is important in promotion to intermediaries is that
marketing mixes often have to be adjusted from one geographic territory to another and
from one intermediary to another.
Answer:
Basic list prices are the prices that final consumers or users are normally asked to pay.
Answer:
Strategic (management) planning is a managerial process of developing and
maintaining a match between the resources of the production department and its
product opportunities.
Answer:
According to the text, the proper function of marketing is to persuade consumers to buy
what firms want to sell.
Answer:
Income by itself is usually a pretty good measure of social class.
Answer:
When a customer service rep works to solve a customer's problem, it often involves
taking steps to remedy what went wrong.
Answer:
Market segmentation applies only to consumer goods and services; it cannot be applied
to business products.
Answer:
A consumer's choice of a retail store appears to be based almost entirely on economic
needs.
Answer:
A channel of distribution is part of a supply chain.
Answer:
In market-directed economies, unregulated monopolies are rare.
Answer:
The Internet has expanded the number of auction companies in lines of business where
auctions have previously not been common.
Answer:
For professional services which are needed only occasionally and require special skills,
it is usually better for a firm to have its own employees provide them than to use
outsiders.
Answer:
It is always in the best interest of the market pioneer for competitors to stay out of the
market.
Answer:
In general, advertising media are becoming more targeted in that they aim for more
narrowly defined market segments.
Answer:
JIT shifts greater responsibility for physical distribution activities forward in the
channel.
Answer:
The government is the largest customer group in all countries.
Answer:
Competitor analysis is an organized approach for evaluating the strengths and
weaknesses of current or potential competitors' marketing strategies.
Answer:
Moral standards often vary from one person to another, from one society to another, and
among different groups within a society, so there is likely to be disagreement about
what opinion is correct when it comes to marketing ethics.
Answer:
The physical distribution concept is based on the idea that selecting the lowest cost
transporting alternative and the lowest cost storing alternative will result in the lowest
total distribution cost.
Answer:
Product managers are especially common in small, single-product companies.
Answer:
A firm's initial sales training program should cover company policies, product
information, building relationships with customers, and selling skills.
Answer:
GDP income measures can give the impression that people in less-developed nations
have more income than they really do.
Answer:
The basic idea for supermarkets developed in the U.S. in the 1960s, when consumers
started to move from the cities to the suburbs.
Answer:
Stage of family life-cycle is usually determined by two demographic
dimensions-income and number of children.
Answer:
Internationally, door-to-door selling is growing in popularity and, in the U.S., it
accounts for more than 15 percent of all retail sales.
Answer:
The most important reason to use indirect channels is if intermediaries can help serve
customers better and at lower cost.
Answer:
According to the text, a firm that sells a service rather than a physical good does not
have a product.
Answer:
A retailer that buys from a rack jobber needs to have an employee who is a specialist in
the products the rack jobber handles.
Answer:
Which of the following is true of the buying behavior of organizational customers?
A. Organizational buyers are solely influenced by economic factors.
B. Purchasing managers and others involved in organizational buying decisions do not
expect friendly relationships with suppliers.
C. In organizational buying, the needs of individuals who influence the purchase are not
important.
D. Product reliability is a more important concern for final consumers than for
organizational customers.
E. Behavioral dimensions like security, status, and a sense of accomplishment affect
organizational buying.
Answer:
Which of the following statements about Place decisions is True?
A. Product classes are not related to Place objectives.
B. The product life cycle is not related to Place objectives.
C. Place decisions are short-term decisions that are easy to change.
D. Different market segments may require separate Place arrangements.
E. All of these statements about Place decisions are True.
Answer:
Average cost is obtained by dividing:
A. total fixed cost by the related quantity.
B. marginal cost by marginal revenue.
C. total cost by the related quantity.
D. average fixed cost and average variable cost by the quantity produced.
E. total variable cost by the related quantity.
Answer:
Which of the following statements about marketing is FALSE?
A. Marketing affects the products you buy.
B. Marketing applies to nonprofit organizations too.
C. Marketing affects the advertising you see and hear.
D. Marketing offers many good job opportunities.
E. Marketing can help with individual transactions but not in building relationships with
customers.
Answer:
Which of the following adopter groups is most important to 'sell"-given the importance
of opinion leaders?
A. Late majority
B. Early majority
C. Laggards
D. Innovators
E. Early adopters
Answer:
Regarding U.S. business and organizational customers,
A. more goods and services are purchased by business and organizational customers
than by final consumers.
B. there are more business and organizational customers than final consumers.
C. there are more manufacturers than all other types of business and organizational
customers combined.
D. more goods and services are purchased by government buyers than by all other
business and organizational customers.
E. None of these alternatives is correct.
Answer:
A _____ is the salesperson's request for an order.
A. close
B. prospect
C. sales quota
D. job description
E. proposal
Answer:
According to the General Electric strategic planning grid, an opportunity which is low
on the "business strengths" dimension but high on the "industry attractiveness" should
be:
A. called a strategic business unit.
B. supported if it is an existing business, but probably not supported if it is a new
opportunity.
C. immediately supported with large investment.
D. sold off or discontinued.
E. viewed as a "green" (high growth) opportunity.
Answer:
A widely used measure of income in most countries is:
A. gross domestic product.
B. total consumption expenditures.
C. disposable personal product.
D. population times GDP.
E. socio-economic product.
Answer:
All of the following are examples of quantitative components of screening criteria that
are used to narrow down to marketing strategies EXCEPT:
A. market share.
B. number of units sold.
C. strengths of the company.
D. annual projected sales dollars.
E. projected profit.
Answer:
According to the "continuum of environmental sensitivity," which of the following
types of products are less sensitive to environmental changes?
A. "Faddy" type consumer products
B. Industrial products
C. Basic commodity-type consumer products
D. Consumer products that are linked to cultural variables
E. All of these types of products are equally sensitive to environmental changes.
Answer:
Which of the following is true of proactive customer service?
A. It requires companies to wait for customers to complain before responding.
B. Companies adopting this approach to customer service view unhappy customers as
unprofitable.
C. Use of social media to track customer complaints reduces a firm's efforts toward
proactive customer service.
D. It can be achieved by monitoring customer activity on the web and using big data
analytics.
E. Companies using proactive customer service wait for a significant number of
customers to call in complaints so they can analyze if a problem requires attention.
Answer:
All of the following are part of the direct marketing environment except:
A. the company.
B. the economy.
C. competitors.
D. customers.
E. all of these are part of the direct marketing environment.
Answer:
The economies of the world are connected and changes in one economy quickly affect
others. One key reason for this is that:
A. The amount of international trade is decreasing.
B. The amount of international trade is difficult to forecast.
C. The amount of international trade is increasing.
D. The amount of international trade is unstable.
E. The amount of international trade is stable.
Answer:
A company's policy regarding in-store returns falls under which of the following
elements of its marketing mix?
A. Price
B. Place
C. Product
D. Promotion
E. Positioning
Answer:
The use of temporary price cuts to speed new products into a market and encourage trial
by customers is:
A. A penetration pricing policy.
B. Introductory price dealing.
C. Pricing for dollar or unit sales growth.
D. A skimming price policy.
E. A flexible-price policy.
Answer:
The consumer decision process begins with
A. a routinized response.
B. need awareness.
C. information search.
D. problem solving.
E. alternative evaluation.
Answer:
A good marketing manager knows that
A. a consumer's reference group may consist of people with whom the consumer has no
face-to-face contact.
B. most consumers have only one reference group.
C. a consumer's family is not a reference group.
D. reference groups usually have the most influence on purchases of products which are
not easily seen by others.
E. None of these alternatives is true.
Answer:
When some customers see all competitors' offerings as basically the same and are
willing to spend much time and effort to buy the item at the lowest price, the item is:
A. an analysis product.
B. a specialty product.
C. a staple product.
D. a heterogeneous shopping product.
E. a homogeneous shopping product.
Answer:
A sales compensation plan should:
A. be easy for salespeople to understand.
B. use the same commission rates on all products-if commissions are used at all.
C. be based on salary or commission, but not a combination of the two.
D. use a percentage of dollar sales in calculating compensationif commissions are used
at all.
E. None of these is a good answer.
Answer:
Which of the following is NOT a key dimension of buyer-seller relationships in
business markets?
A. legal bonds
B. relationship-specific adaptations
C. cooperation
D. operational linkages
E. bid rigging
Answer:
An automobile company posts a video of its new solar-powered car on its page in a
popular social networking site. This is an example of a firm:
A. using a paid media to create a brand image.
B. using social media for publicity.
C. applying personal selling to get immediate response.
D. conducting a social audit.
E. showing its support for corporate social responsibility through sales promotion.
Answer:
The attitudes and behavior patterns of people are part of the
A. political environment.
B. social and cultural environment.
C. competitive environment.
D. firm's resources and objectives.
E. economic and technological environment.
Answer:
Which of the following examples illustrates social media amplifying the voice of
opinion leaders?
A. An e-commerce site providing attractive offers to its regular customers
B. A retail store announcing a sweepstake on its company website
C. A seasoned tourist posting a long, detailed positive review at Hotels.com
D. A podcast that receives thousand views and hits
E. A brand sending a message about Twitter to its followers
Answer:
Which of the following descriptions of the salespeople is CORRECT?
A. Order-takers: sell to the regular or established customers.
B. Supporting salespeople: routine completion of sales made regularly to target
customers.
C. Order-getters: help the order-oriented salespeople.
D. Missionary salespeople: supporting salespeople who provide technical assistance.
E. Customer service reps: work to close orders after other salespeople have started
them.
Answer:
A __________ is an organized way of continually gathering, accessing, and analyzing
information that marketing managers need to make ongoing decisions.
A. big data repository
B. data warehouse
C. marketing information system
D. research specialist network
E. marketing model
Answer:
According to the text, the two basic approaches to price setting are
A. supply-oriented and demand-oriented price setting.
B. cost-oriented and demand-oriented price setting.
C. sales-oriented and profit-oriented price setting.
D. cost-oriented and profit-oriented price setting.
E. average-cost pricing and break-even analysis.
Answer:
_____ means trying to increase sales of a firm's present products in its present markets.
A. Differentiation
B. Product development
C. Market development
D. Diversification
E. Market penetration
Answer:
Use this information to answer the following question that refer to the EI (Electech Inc.)
case.
Electech, Inc. (EI) produces a line of semiconductors for electronics products
manufacturers. These items range in price from $5-$100 and are used in products the
buyer is producing. EI also designs and builds computer networking equipment. The
prices of these items range from $5,000 to $100,000. These are used to control
production equipment. Usually, they are custom-made to the specifications of the
buyer-the firm that will use the product in its own production process.
EI sells nationally through independent sales reps-paid on commission-who work in the
large industrial centers across the country. EI is more concerned with the quality of
these reps than with the number of them. All of them also sell other lines. EI also uses
five full-time salaried salespeople who work out of its corporate headquarters under a
sales manager.
The home office salespeople are "technical specialists" who sell almost all the
networking equipment, while the "reps" mostly sell the semiconductors. Sometimes,
however, the reps will send in leads to customers who want networking equipment. EI
also sells some of its semiconductors through a Los Angeles wholesaler who carries
stock for West Coast customers.
There are many producers and importers of semiconductors in the U.S.-but several
firms have captured large shares of the networking equipment market. EI has held its
own, and in fact, over the past five years has increased its market share of these
products to over 25 percent-because of its better technical designs.
Industry-wide prices of the more or less homogeneous semiconductors have been
forced further and further down over the last seven years-as have industry profits. The
price of networking equipment is set by adding a standard markup percent to the direct
cost of the items-for overhead and for profit. Following industry practice, all prices are
quoted at the seller's factory.
EI publishes a catalog, which is revised periodically. Also, it exhibits in most equipment
trade shows.
EI's geographic terms are probably:
A. F.O.B. delivered.
B. F.O.B. buyer's factory.
C. F.O.B. freight allowed.
D. F.O.B. mill.
E. F.O.B. basing point.
Answer:
At Travelocity's website, visitors are likely to find several airlines that have the
identical same-day price for a flight from Atlanta to San Francisco. What pricing
objective are these airlines pursuing?
A. Status quo
B. Price flexibility
C. Quantity discount
D. Introductory price deal
E. Bundling
Answer:
A company that produces baseball caps has fixed costs of $100,000, total variable costs
of $40,000 for a production volume of 20,000 units. The average variable cost per unit
is:
A. $5.00.
B. $2.50.
C. $0.20.
D. $0.40.
E. $2.00.
Answer:
When listening to music on the radio, many consumers automatically switch stations
when commercials begin to run, and they search until they find another station that is
playing music. This tendency is an example of:
A. Selective exposure.
B. Selective perception.
C. Selective retention.
D. Selective learning.
E. Selective reception.
Answer:
Which of the following is most likely to be the encoding of a message in the
communication process?
A. An industrial chemical manufacturer advertises its products in industry magazines.
B. An industrial chemical manufacturer determines what information to include in its
ads.
C. A construction company executive reads about a chemical product in a trade
magazine.
D. A construction company executive asks his purchase department to order a new
product.
E. Certain industry magazines are chosen by a chemical manufacturer for placement of
its ads.
Answer:
