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Before the development of computer-assisted design software, many firms handcrafted
__________, wooden or clay models that served as rough physical representations of a
new product.
A. premarket tests
B. blockbusters
C. prototypes
D. storyboards
E. designer models
Answer:
Which of the following is not one of the roles typically played by one of the members
of a buying center?
A. leader
B. initiator
C. influencer
D. decider
E. gatekeeper
Answer:
One reason B2B salespeople spend considerable time qualifying potential customers is
that
A. they want to have absolutely everything in order before approaching a potential
customer.
B. it can be costly to prepare and make a presentation to a business customer.
C. too many business buyers at trade shows are really people from competing firms
trying to obtain competitive information.
D. independent agents get the best leads; the company sales representatives need to
work harder.
E. they want to determine if telemarketing is required.
Answer:
Diane owns a bakery where she sells cupcakes. Two blocks down there is another
bakery, CC's Bakery, that sells cupcakes for $1 less than Diane. Diane decides to lower
her price and match CC's Bakery prices. What type of pricing strategy is Diane
implementing?
A. internal pricing
B. profit-oriented pricing
C. competitor-oriented pricing
D. customer-oriented pricing
E. sales-oriented pricing
Answer:
When Bernie Ebbers, WorldCom's CEO, was convicted of financial crimes, WorldCom
was forced to merge with MCI. One of the ramifications of this merger was the loss of
WorldCom's sponsorship of the Sea Pines Heritage PGA golf tournament. The
tournament funds the Heritage Foundation, a major community charity. This example
illustrates
A. the need to identify issues.
B. that the impact of unethical actions can reach far beyond the corporation.
C. that unethical firms cannot be socially responsible.
D. the lack of information needed to make ethical decisions.
E. the questionable advantage of social responsibility.
Answer:
A typical focus group has ________ members.
A. 2-4
B. 4-6
C. 6-8
D. 8-12
E. 12-15
Answer:
Knowing what customers expect is essential. Retailers need to know which
manufacturers their customers prefer, while manufacturers need to know
A. if customers are using credit cards or cash to make purchases.
B. how many employees the retailers have.
C. where their target customers expect to find their products.
D. whether the products will fill a customer's self-actualization needs.
E. whether customers will find the store atmospherics appropriate to the location.
Answer:
Twitter can help build a brand's image by educating and engaging consumers. However,
one central issue for companies using Twitter is
A. limiting the number of tweets per day.
B. remunerating for posters.
C. managing outgoing Twitter communication.
D. eliminating negative posts.
E. eliminating confusion with similar products.
Answer:
Sales promotions include all of the following except
A. coupons.
B. rebates.
C. online ads.
D. point-of-purchase displays.
E. free samples.
Answer:
Darren has developed a better type of medication vial for travelers. He is not sure how
to develop a marketing program for his product, as there are a few similar ones on the
market. What technique can Darren use to analyze data from his competitor's websites,
particularly to learn how people search for similar products online?
A. click path data
B. sentiment analysis
C. social influence
D. keyword analysis
E. budget analysis
Answer:
New real estate disclosure regulations require sellers and their agents to tell prospective
buyers about any existing problems with the property. Previously, they were expected
only to answer buyers' questions. The new regulation addressed the marketing ethical
problem of
A. high-pressure sales techniques.
B. deceptive pricing tactics.
C. misrepresentation of company data.
D. misleading advertising.
E. withholding information.
Answer:
Which of the following would not be used in calculating the profitability of a segment?
A. segment perceptions
B. segment size
C. segment adoption percentage
D. profit margin percentage
E. fixed costs
Answer:
The highest level of awareness occurs when customers mention a specific brand name
when asked about a product or service. Marketers call this
A. the primacy effect.
B. aided recall.
C. top-of-mind awareness.
D. category dominance.
E. elevated awareness.
Answer:
The Henry Ford Health System (a health care provider) has set strict limits for
pharmaceutical representatives and will no longer allow doctors in its system to accept
free lunches, gifts, or other perks from the pharmaceutical representatives. The Henry
Ford Health System probably established this policy because
A. it reduces the possibility that the Henry Ford Health System might make unethical
purchasing decisions.
B. it ensures that Henry Ford Health System is both ethical and socially responsible.
C. it increases Henry Ford Health System's socially responsible behavior.
D. it ensures that Henry Ford Health System is socially responsible, but not necessarily
ethical.
E. it is trying to save money.
Answer:
The process of dividing the market into groups of customers with different needs,
wants, or characteristics is called
A. target marketing.
B. market segmentation.
C. positioning.
D. allocation.
E. value capture.
Answer:
Changes in _________ have been a driving force for growth in global markets for
decades.
A. infrastructure
B. demographics
C. population
D. technology
E. ethical standards
Answer:
The three elements of any IMC strategy are the consumer, the channels, and
A. the receiver.
B. the product.
C. evaluation of the results.
D. the company.
E. event sponsorship.
Answer:
Firms spend millions of dollars annually to build brand equity, recognizing that brand
equity contributes to
A. product mix breadth.
B. corporate stakeholder relations.
C. profitability.
D. brand liability.
E. perceived brand personality.
Answer:
An online retailer needs to be able to measure how well its website converts purchase
intentions into actual purchases. This is known as the
A. conversion rate.
B. collection ratio.
C. consumer index.
D. customer total.
E. buyer quotient.
Answer:
Beer marketers know that high school educated, working-class males from the ages of
25 to 40 make an attractive market for their products. This is a __________ segment of
the beer market.
A. demographic
B. psychographic
C. behavioral
D. benefits
E. geographic
Answer:
Compared to mass media advertising, a key advantage of direct marketing is
A. it allows for personalization of the message.
B. it reaches a larger audience.
C. it involves face-to-face contact.
D. it uses the rule-of-thumb budgeting method.
E. it is used almost exclusively for B2B marketing.
Answer:
Suppose that Volkswagen is preparing an RFP for a hands-free phone connection for a
new car model. Which of the following would you not expect to find in the RFP?
A. a description of the required features for the device
B. a time frame when the devices are needed
C. specifications for connecting the device to the car
D. a vendor analysis
E. instructions for preparing proposals
Answer:
For marketers, media-sharing sites such as YouTube or Flickr are social media tools
best used to
A. encourage customers to engage with the firm and experience its products.
B. stimulate excitement.
C. develop customer education and engage with other users.
D. develop customer education.
E. energize customers and stimulate excitement for its products.
Answer:
Jackie is running errands on Saturday morning. First, she drives through CVS pharmacy
to pick up a prescription, stops at the tailor to pick up a dress she had hemmed, and then
heads to her manicure appointment. What kind of retailers is Jackie visiting?
A. category killers
B. category killers and services retailers
C. service retailers
D. convenience stores
E. off-price retailers and specialty stores
Answer:
Which of the following is one of the global entry strategies?
A. direct investment
B. countertrade
C. offshoring
D. infrastructure development
E. trade agreements
Answer:
The break-even point is estimated by
A. multiplying revenue per unit times the quantity sold.
B. dividing fixed contribution per unit by variable costs.
C. multiplying fixed costs by contribution per unit.
D. dividing fixed costs by contribution per unit.
E. dividing variable costs by fixed costs.
Answer:
The major text portion of a print advertisement that should arouse a desire for the
product and move the consumer to action is contained in the
A. headline.
B. body copy.
C. brand elements.
D. photo credits.
E. subheads.
Answer:
A representation, omission, act, or practice in an advertisement that is likely to mislead
consumers acting reasonably under the circumstances is referred to as
A. deceptive advertising.
B. illegal marketing.
C. business ethics.
D. corporate irresponsibility.
E. a sustainable competitive advantage.
Answer:
The manager of a company selling cellular phones in rural U.S. markets asks you to
conduct survey research into the following question: What percentage of people in
Kansas live in communities of less than 10,000 people? The problem with this research
objective is that
A. it is irrelevant to the cellular company.
B. it is already known and available from the U.S. Census Bureau.
C. it will lead to a set of unstructured questions.
D. it is a research question that probably cannot be answered with any level of accuracy.
E. it is too expensive to determine the answer.
Answer:
The complete set of all products offered by a firm is called its
A. product line.
B. product categories.
C. product mix.
D. product breadth.
E. product line depth.
Answer:
Manufacturers trying to implement a just-in-time delivery system need to start with
A. routing software.
B. shipping schedules.
C. distribution center design.
D. knowledge of customer demand.
E. intensive distribution.
Answer:
Fourteenth National Bank prides itself on offering better service than any of its
competitors. If this is accurate, and if customers recognize and value Fourteenth
National's superior service, the bank creates and delivers value through
A. promotional excellence.
B. product excellence.
C. operational excellence.
D. global excellence.
E. customer excellence.
Answer:
Barry customizes Harley-Davidson motorcycles. No two cycles are alike. He notices
that very few customers even ask the price of his motorcycles before they decide to
purchase them. Demand for his motorcycles is probably
A. price sensitive.
B. price elastic.
C. price inelastic.
D. income elastic.
E. cross-price elastic.
Answer:
One important purpose of a brand is to
A. sell advertising space.
B. minimize product line depth needed to be effective.
C. increase consumer recognition and awareness of product offerings.
D. reduce product packaging.
E. meet government regulations.
Answer:
Using the diffusion of innovation theory, what factors contributed to the rapid adoption
and success of Amazon.com?
Answer:
How can an electronic data interchange be used by a manufacturer to support the
product, price, and promotion elements of the marketing mix?
Answer:
A currently popular trend in the wine industry is house-labeled wine. Restaurants, hotel
chains, and even universities now sell wine under their brand name. Is this type of
brand extension a good marketing strategy? Defend your answer.
Answer:
A small manufacturer was once quoted as saying, "The best day and the worst day of
my business life was the day we got a contract from Walmart." What type of vertical
supply chain is the manufacturer entering? Why would the manufacturer say this?
Answer:
Carol manages a cell phone store and is debating how much personal selling and
customer service she should utilize as part of her promotion strategy. What would you
recommend and why?
Answer:
Robert was extremely embarrassed. He was giving a presentation on the research
findings to the senior executives of the company. The CEO of the company stopped him
in the middle of the presentation and said, "This is not what I asked for or needed. This
meeting is over. Reschedule the meeting when you're prepared." What do you suppose
could have gone wrong, and what should Robert do?
Answer:
Which forms of social media are good choices for "exciting" the customer?
Answer:
An Uncle Ben's box of rice has a symbol stating that the packaging is made from 100
percent recycled material and encourages consumers to recycle. Identify the social trend
being addressed by Uncle Ben's.
Answer:
You and your friend Alison work in different parts of a large firm. In a recent analysis,
your area was labeled a "cash cow" and hers was labeled a "question mark." What
things would you do differently in your area than Alison would do in hers?
Answer:
Describe the process of exchange control, and explain how it affects a country's ability
to conduct global business.
Answer:
If senior management already has made its decision, should marketing research be
conducted? What questions should be considered?
Answer:
Coastal Glass Company provides bottles to the major beverage companies in the United
States. Coastal knows it needs to build partnering relationships with each of the
beverage companies, and the beverage companies know that Coastal is important to
them. What will both sides need to do to build and maintain a partnering relationship?
Answer:
Name three ways a B2B marketer can enhance customer relationships.
Answer:
When personal computers were new, people spent considerable time and energy
learning about and investigating choices and options. Now, many consumers replace old
computers with little research or investigation. In terms of types of products (specialty,
shopping, convenience, and unsought goods), how have personal computers changed?
Answer:
Suppose your college roommate sees you reading your marketing textbook and says,
"Marketing is just advertising and selling." How do you respond?
Answer:
Where does the value for the consumer lie in the supply chain?
Answer:
How do airlines and hotels overcome the perishability of their services?
Answer:
Describe the four B2B markets and explain how their transactions differ.
Answer:
Harley-Davidson knows that many of its customers today are professional people who
want the pride of owning a Harley. Harley-Davidson also appeals to its more traditional
market: cyclists who want a smooth, powerful ride. To be successful, Harley-Davidson
needs to appeal to which type(s) of needs?
Answer:
Convenience stores are said to be the modern version of the mom-and-pop grocery or
general stores. Those mom-and-pop stores are no longer around. If convenience stores
want to thrive, what must they do to provide value to customers?
Answer:
