The form of global organization that provides the highest potential for return on
investment as well as the highest level of risk is contract manufacturing.
a. True
b. False
Answer:
The imbalance between actual and desired states is sometimes referred to as the:
a. Want-got gap.
b. self-actualization quandary.
c. either-or principle.
d. got-want gap.
e. cognitive-dissonance paradox.
Answer:
Altria Group, Inc.’s Phillip Morris failed at an attempt to target Americans looking for a
potentially safer cigarette. This market exhibits a lack of:
a. substantiality.
b. identifiability and measurability.
c. responsiveness.
d. reliability.
e. accessibility.
Answer:
___ is the joint effort of all channel members to create a channel that serves customers
and creates a competitive advantage.
a. Selective partnering
b. Direct distribution
c. Channel partnering
d. Intensive integration
e. Closed channel distribution
Answer:
Martina loves her new Kindle and has tweeted to her followers several times about how
great the product is. This is an example of communication directly from the marketer to
potential adopters.
a. True
b. False
Answer:
The set of unique features of a company and its products that are perceived by the target
market as significant and superior to the competition is known as a(n):
a. environmental advantage
b. experience curve
c. competitive advantage
d. market segment
e. strategic business unit
Answer:
Most companies become sensitized to community issues after they”ve done enough
damage to draw the locals’ anger. Dofasco, Inc., a highly successful steel company in
Ontario, tries to get ahead of business and community issues by annually bringing
together representatives from the local area and deciding which projects to improve the
local environment will be implemented. This annual community-wide meeting indicates
Dofasco has a _____ orientation.
a. societal marketing
b. sales
c. reciprocal exchange
d. production
e. product
Answer:
_____ is defined as the collection and interpretation of information about forces, events,
and relationships that may affect the organization.
a. Market sampling
b. An internal audit
c. Opportunity analysis
d. Environmental scanning
e. Stakeholder analysis
Answer:
The goal of inventory management is to:
a. minimize inventory levels while maintaining an adequate supply of goods to meet
customer demands.
b. maximize inventory levels to prevent any possibility of stockouts.
c. determine order timing and order quantity.
d. estimate proper usage rates.
e. integrate JIT to reduce risks of obsolescence, theft, and damage.
Answer:
Changing one or more of a product’s characteristics is called:
a. product modification.
b. product repositioning.
c. product adjustment.
d. planned obsolescence.
e. product extension.
Answer:
Rosa’s husband Phil has a cold. Rosa went to the store to buy something that would
help Phil sleep. Rosa purchased Breathe Right nasal strips embedded with Vicks
mentholated vapor rub. The package showed both the Breathe Right and the Vicks
brand names. This is an example of branding.
a. equity
b. ingredient
c. family
d. private
e. functional
Answer:
The maker of Frank’s RedHot pepper sauce spent $25,000 to create an ad that was
targeted to consumers in the southwestern U.S. market. Because it created the ad itself
and did not use an ad agency, Frank’s RedHot sauce engaged in:
a. channeling.
b. creating noise.
c. receiving.
d. decoding.
e. encoding.
Answer:
Service personnel who exhibit caring, individualized attention to customers are
addressing which service quality component?
a. Reliability
b. Responsiveness
c. Assurance
d. Empathy
e. Tangibles
Answer:
Pioneering advertising, competitive advertising, and comparative advertising are all
types of:
a. institutional advertising
b. product advertising
c. primary advertising
d. commercial advertising
e. commissioned advertising
Answer:
GrizzlyWatching
Have you ever wanted to spend your vacation up close and personal with a grizzly
bear? Great Bear Nature Tours is one of the many lodges that provide such a service.
Great Bear, located in British Columbia, is actually a lodge built on a floating barge.
The lodge can handle up to ten guests in what the WallStreet Journalcalls rustic but
upscale accommodations in double rooms that begin at a rate of $1,418 per night,
including bear-watching tours. Although bear hunting still brings tourists to Canada,
bear watching is a growing attraction. On a bear-watching tour, the guide, who is often
unarmed, will take you close enough to get a good view of a grizzly in the wild. In fact,
one of the favorite tours allows you to watch bears swipe at salmon as they swim
upstream to spawning grounds. While bear watching sounds dangerous, bear attacks are
not common. However, just to be careful, many tour guides carry pepper spray. Tour
guides say they are able to keep tour members safe by watching the bears and reading
their body movements.
Refer to Grizzly Watching. Instead of pricing guests separately for their room,
breakfast, tours, and so on, Great Bear Nature Tours charges a ___ price of $1,418 per
night, including bear-watching tours.
a. bundled
b. supplementary
c. core service
d. intangible
e. unbundled
Answer:
Which of the following is NOT a source of competitive intelligence?
a. A company’s salespeople
b. Government agencies
c. The Yellow Pages
d. Periodicals
e. All of these are sources of CI
Answer:
The is the element of a brand that cannot be spoken.
a. brand mark
b. trademark
c. brand equity
d. quality mark
e. intangible product
Answer:
A(n) ___ is the result of applying human or mechanical efforts to people or objects.
a. application processor
b. profit intermediary
c. tangible product
d. service
e. nonprofit organization
Answer:
People who love to fish prefer American Magic Lures that are cut from ash or cedar and
then hand painted and hand tied with a feather skirt. Advertising for American Magic
Lures emphasizes how its lures, unlike others, are all handcrafted. This is its:
a. publicity objective.
b. marketing differentiator.
c. competitive advantage.
d. one-to-one marketing advantage.
e. sales promotional theme.
Answer:
Kent Longino is the marketing VP for Andersen, one of the largest manufacturers of
windows in the world. He is directing the introduction of a glass-encased sunroom that
can be assembled in a weekend. He wants to capitalize on Andersen’s existing
reputation. Which learning method should he attempt to stimulate when introducing the
new product?
a. Conceptual learning
b. Experiential learning
c. Repetition learning
d. Stimulus generalization
e. Stimulus discrimination
Answer:
Zambia is internationally recognized as the world’s second leading producer of cobalt,
which is used to make high speed and high-temperature cutting tools and dyes. A
company that wanted to manufacture tools for shaping steel would be most attracted to
which element of the Zambian environment?
a. Culture
b. Legal
c. Economic
d. Technological
e. Natural resources
Answer:
A _____ is defined as a statement of what is to be accomplished through marketing
activities.
a. mission statement
b. business plan
c. marketing objective
d. goal-driven directive
e. marketing criteria
Answer:
Rosarita is responsible for developing a plan for the optimal use of advertising, personal
selling, sales promotion, and public relations. Rosarita is developing a:
a. promotional strategy.
b. set of promotion goals.
c. marketing mix.
d. communication mix.
e. selling plan.
Answer:
Delta Faucet Company
Masco is the name of a well-recognized company in the construction industry. It
produces cabinetry, furniture, lighting, and plumbing fixtures for the upper-end
homeowner and builder. One of the divisions of Masco is the Delta Faucet Company,
which is the leader in the faucet industry. Delta was founded in 1955. Over the decades,
it has developed a legacy based on well-crafted, high-quality products. Since the 1970s,
Delta has focused its energies on building loyalty with the builder marketplace.
Research in 2002 showed that while builders respected the Delta faucet for its quality,
durability, and dependability, household consumers were not enamored with Delta
products. Due to the number of new magazines and television programs devoted to
home style, homeowners wanted faucets that were chic and stylish. This was not the
image of the Delta faucet. To change its image, Delta began a marketing program in
which it committed itself to developing new products to appeal to homeowners. It
adopted a new slogan”””Beautifully Engineered.”
Refer to Delta Faucet Company. Delta’s development of a new slogan represents a
change in the ______ element of its marketing mix.
a. product
b. promotion
c. place
d. production
e. distributio
Answer:
A penetration strategy tends to be effective in a price-sensitive market. Thus, one of the
purposes of penetration pricing is to:
a. recoup product development costs quickly.
b. discourage competitors from entering the market.
c. produce a large margin of profit per unit.
d. develop exclusive distribution.
e. attract the price-insensitive buyer who demands the latest in technology.
Answer:
Consumers with prior experience in buying a certain product will spend less time
searching for product information and will limit the number of products that they
consider.
a. True
b. False
Answer:
Which of the following is a criticism of multinational corporations?
a. Multinationals sometimes support reactionary and oppressive regimes.
b. Multinationals require excessive employment information.
c. Countertrading
d. The transference of labor-intensive technology
e. Multinationals do not do enough to standardize their marketing mixes.
Answer:
Because online surveys are still in their infancy, there are limited methods of
conducting online surveys.
a. True
b. False
Answer:
____ is a form of learning that occurs when one response is extended to a second
stimulus similar to the first.
a. Belief generalization
b. Belief discrimination
c. Stimulus generalization
d. Stimulus discrimination
e. Attitude formation
Answer:
Kraft introduced Philadelphia Ready-To-Eat Cheesecake Filling for those who do not
have time to make cheesecake in the traditional manner. This is an example of a
strategy.
a. diversification
b. market development
c. product development
d. divestment
e. product penetration
Answer:
Discuss the limitations nonprofit marketers face when making promotion decisions and
describe how they overcome these limitations.
Answer:
Stump’s Hot Olives are manufactured by a family business in Wisconsin and are sold in
Midwestern grocery stores,
through mail order, and to a few local restaurants. The company has been in operation
since 1998 and relies on labor from family and friends to produce and package olives in
attractive, reusable glass containers. Stump’s uses store demonstrations to introduce its
spicy olives to new customers. Discuss how this company can establish or maintain at
least one of the three types of competitive advantage.
Answer:
For marketers, reference groups have three important implications. Describe them.
Answer:
The newest theory in social responsibility is called sustainability. Explain what this
means.
Answer:
List three ways an organization will benefit from the development and use of a code of
ethics.
Answer:
What is product line pricing? What three relationships among products in the line must
managers be aware of before setting prices? For each relationship, give an example of a
product that fits the situation.
Answer:
List the four stages of the product life cycle. Then describe the promotional strategies
used in each stage.
Answer:
What is scanner-based research? What two companies currently provide most of the
scanner data?
Answer:
Describe the competitive environment for a locally owned coffeehouse in your college
community.
Answer:
After products and marketing programs have been developed for new products, they are
usually tested in the marketplace. What is test marketing? How may a company benefit
from the use of such marketing? How can test marketing cause problems for a
company?
Answer:
Briefly describe the four major categories of customers in business marketing. Give
examples of companies or organizations in each category.
Answer:
List the four basic strategies used once an organization has identified its strategic
business units in terms of the portfolio matrix. Describe when each is used.
Answer:
What is a strategic alliance? How is it linked to relationship marketing?
Answer:
Describe the five gaps identified in the gap model of service quality that can cause
problems in service delivery and influence customer evaluations of service quality.
Discuss ways that marketers can close each gap.
Answer: