The relationship between a product line and product mix is
a. product mixes include product lines.
b. product lines include product mixes.
c. product lines refer to consumer products; product mixes refer to industrial products.
d. product mixes refer to consumer products; product lines refer to industrial products.
e. there is no significant difference other than minor product variations of color, size, or
form.
Answer:
Edwin H. Land, former CEO of Polaroid, took personal responsibility for technological
innovation at Polaroid. On the other hand, Lewis Platt, CEO of Hewlett-Packard,
believed senior management’s role was to create an environment that encourages
managers to take risks and create new growth opportunities. Which of the following
statements describes the actions of these men?
a. Both Land and Platt were program champions.
b. Platt was a program champion and Land was not.
c. Land was a program champion and Platt was not.
d. Neither Platt nor Land was a program champion.
e. Land believed in encouraging others to act as program champions and Platt did not.
Answer:
When a manufacturer directs the promotional mix to channel members to gain their
cooperation in ordering and stocking the product, it is using a(n) __________ strategy.
a. push
b. pull
c. inertia
d. exclusivity
e. logistics
Answer:
The EU has benefited its member nations because firms do not need to market their
products and services on a nation-by-nation basis, most tariffs that affect pricing
practices have been removed, and
a. there is a legally binding code of economic conduct.
b. there is immunity against world recessions.
c. there are fewer regulatory restrictions on transportation, advertising, and promotion.
d. there is a common language advantage among EU consumers.
e. most companies within the EU are engaging in strategic global partnerships.
Answer:
Most advertising messages are made up of two elements, which are
a. expository and persuasional.
b. informational and persuasional.
c. informational and creative.
d. functional and persuasional.
e. creative and expository.
Answer:
Which of the following statements is MOST accurate?
a. Test marketing is especially important for new services.
b. Expensive consumer products must be test marketed in extremely upscale shopping
malls to guarantee accurate results.
c. Test marketing is better suited to relatively inexpensive new consumer products than
for new services.
d. Test marketing is especially important for new, expensive industrial products.
e. Test market results are often less helpful than expected.
Answer:
Pure competition is the competitive situation where
a. many sellers follow market price for identical, commodity products.
b. one seller sets the price for a unique product.
c. few sellers are sensitive to one another’s prices.
d. many sellers compete on nonprice factors.
e. one or few sellers compete solely on nonprice factors.
Answer:
The convergence of real and digital worlds is the result of
a. the work of William Gibson who coined the term “cyberspace.”
b. the implementation of ideas found in science fiction films and books.
c. the unlimited proliferation of interlinked smartphones, tablet devices, sensors,
sophisticated algorithms, databases, and other elements.
d. Steve Jobs, the late visionary CEO of Apple, Inc.
e. the researchers at Xerox Palo Alto Research Center (PARC).
Answer:
The appreciation of fashion, music, and a desire for novelty and trendier designs and
images
a. are preferences found more in American teenagers than in most other cultures around
the world.
b. actually begin at age 10, but begin to decline significantly as students enter high
school.
c. ironically are found more for teenagers who cannot afford to make those purchases
than for those who can.
d. are preferences of teenagers around the world regardless of whether they live.
e. rarely, if ever, change once established, which is why identifying these consumers is
so important.
Answer:
Figure 1.
Consider Figure 1. above. A small family owns gelato business in the town’s favorite
place where parents and children stop on their way home from work to relax or school
to play. However, the business owner is barely making ends meet. He experiments by
purchasing a case of large take-home containers so customers can not only stop on the
way home from school or work but also enjoy the gelato after dinner at home. Profits
begin to rise. This is an example of a __________ strategy that would be found in
quadrant __________.
a. product penetration; “A”
b. market penetration; “A”
c. product development; “B”
d. market development; “B”
e. market development; “C”
Answer:
While brand managers use both traditional and social media to promote and advertise
their products, traditional media __________, while social media __________.
a. appeal to a younger audience; appeal to a middle-aged audience
b. are cheaper; are more creative
c. are produced quickly and inexpensively by an individual; are expensive to produce
and may take a team of specialists months to complete
d. are generally accessible everywhere to those with smartphones, computers, and tablet
devices; are typically produced by an individual and privately owned by them
e. take longer to produce and use a team of specialists; can be produced inexpensively
and quickly by an individual
Answer:
Among business products, drafting tables would best be considered which type of
support products?
a. installations
b. accessory equipment
c. supplies
d. industrial services
e. raw materials
Answer:
In the VALS framework, consumers can have abundant or minimal level of
psychological, physical, and material resources. One segment with minimal resources,
known as __________, focuses on meeting basic needs (safety and security) rather than
fulfilling desires.
a. Thinkers
b. Innovators
c. Makers
d. Survivors
e. Strivers
Answer:
The Vermont Teddy Bear Company sells handmade Teddy bears designed to be given as
gifts for almost every occasion imaginable. The Love Bandit Bear is designed for
people to give to each other on Valentine’s Day. The unique identification number that
the Vermont Teddy Bear Company uses to distinguish this Teddy bear from the others in
its product line for ordering and inventory purposes is called a(n)
a. stock ID code.
b. QR code.
c. NAICS stock code.
d. order quantity code.
e. stock keeping unit.
Answer:
Two important advantages of secondary data are that it is __________ and __________.
a. inexpensive; up-to-date.
b. up-to-date; supplies all relevant categories of information.
c. usually inexpensive; saves time.
d. tailor-made to specifications; relatively inexpensive.
e. none of the above.
Answer:
Which statement regarding efficient supply chains is most accurate?
a. Efficient supply chains traditionally use inexpensive but slower modes of
transportation.
b. Efficient supply chains use common platforms and common components across
several products.
c. Efficient supply chains rely on maintaining large geographically dispersed inventory
warehouses.
d. Efficient supply chains traditionally use expensive, but faster, modes of
transportation.
e. Efficient supply chains emphasize economies of scale by increasing the variety of
system configurations offered.
Answer:
Since global marketing is affected by economic considerations, a scan of the global
marketplace should include this factor:
a. an analysis of cultural diversity within the country under consideration.
b. regulatory constraints regarding contracts, mergers, and partnerships.
c. an assessment of language differences including dialect variation.
d. a comparative analysis of the economic development in different countries.
e. political and ideological differences between the countries involved.
Answer:
The workload method __________.
a. determines a fair and equitable compensation plan based on a weighted system for
sales of different types of items or from different-sized territories
b. identifies the target market that most closely meets the special skills of the salesforce
c. determines the size of a salesforce by integrating the number of customers served,
call frequency, call length, and available selling time to arrive at a salesforce size figure
d. describes what is to be achieved and where and how the selling effort of salespeople
is to be deployed
e. determines when a company’s salesforce becomes more profitable than independent
sales agents to sell its company’s product(s)
Answer:
Many restaurants now ask consumers to evaluate their experience on a short
questionnaire when they pay their bill. This assessment of consumer expectations and
the actual experience they had is called a __________.
a. gap analysis
b. service encounter survey
c. customer profile analysis
d. customer contact audit
e. service audit
Answer:
One advantage of using the yellow pages as an advertising medium is
a. the short life span.
b. they are used more than 150 billion times annually.
c. the print pages are quicker and easier to use than the Internet.
d. they are more mobile than other information sources.
e. they are available 24/7/365.
Answer:
Before opening six Torrid plus-size-only retail stores that cater to women aged 15-30, a
great deal of information was gathered from a sample of women to determine what
types of items should be carried, the image of the store, its advertising, etc. Which of
the following is an example of a closed-end question that might have been asked?
a. Why would you want to shop at a store that carries plus-size clothing?
b. In what ways might you be uncomfortable shopping at a plus-size-only retailer?
c. Would you be interested in buying the Torrid merchandise on the Internet? ___ Yes
___ No
d. What type of person would shop at Torrid?
e. None of the above questions is an example of a closed-ended question.
Answer:
Which of the following is an example of a product line?
a. Little Remedies’ gas relief drops
b. Zephyrhills natural spring water in 8 oz. bottles
c. The Yellow Pages for Gainesville, Florida
d. Hallmark Mother’s and Father’s Day cards
e. Apple iPhone
Answer:
Pizza Hut’s website customization is achieved in several ways, but the primary utility is
to __________.
a. speed up the delivery process
b. offer the greatest selection
c. offer the best value for the price
d. create strong customer relationship
e. simplify ordering
Answer:
Keisha is buying a new car in keeping with her role as the newest vice president of her
company. She was overheard telling a coworker, “The Volvo has reclining bucket seats
but the Cadillac has front and back stereo speakers.” Keisha is currently in which stage
of the purchase decision process?
a. problem recognition
b. information search
c. alternative evaluation
d. purchase decision
e. postpurchase evaluation
Answer:
A strategy of harvesting may be employed in the decline stage of a product life to
__________.
a. maintain primary demand for a product category
b. acquire as many new customers as possible
c. maintain the ability to meet ongoing customers’ requests
d. eliminate all production costs
e. reposition the product
Answer:
Which type of distribution density does Rolls Royce use when the car manufacturer
maintains only one dealership in any large metropolitan area?
a. exclusive distribution
b. intensive distribution
c. extensive distribution
d. selective distribution
e. private label distribution
Answer:
Figure 1.: General Mills Marketing Dashboard Chart “D”
Consider Figure 1.: General Mills Marketing Dashboard Chart “D” above. The bar
graph for the Drug channel would most likely cause marketers to
a. put more products into drugstores and remove product from warehouse stores.
b. reduce the choices to keep drugstores more in line with the other four distribution
channels.
c. find out why the number of flavors in drugstores jumped in December and exploit
that information.
d. investigate shopping preferences of customers between Warm Delights Minis over
Warm Delights (regular).
e. take corrective actions that would allow drugstores to sell as much as grocery stores.
Answer:
A marketing strategy refers to
a. the means by which a marketing goal is to be achieved, usually characterized by a
specified target market and a marketing program to reach it.
b. the tactical decisions made to implement the marketing program.
c. a technique to quantify performance measures and growth targets of a firm’s strategic
business units (SBUs).
d. a road map for the marketing activities of an organization for a specified future time
period, such as one year or five years.
e. the detailed day-to-day operational decisions.
Answer:
Perceived risk is
a. an unmerited fear of being taken advantage of in an exchange situation.
b. the feeling of postpurchase psychological tension or anxiety consumers may
experience when faced with two or more highly attractive alternatives.
c. the degree to which a seller is willing to make an exchange based upon a customer’s
credit worthiness.
d. the personal, social, and economic significance of the purchase to the consumer.
e. the anxiety felt because the consumer cannot anticipate the outcomes of a purchase
but believes there may be negative consequences.
Answer:
The strategy of trading down involves __________.
a. adding product features but using lower quality product materials
b. reducing product features and but using higher quality product materials or
ingredients
c. reducing the number of features, quality, or price of a product
d. seeking a less price-sensitive target market
e. changing to a mass merchandiser retailer like Wal-Mart or Target
Answer: