In the marketing mix, design, packaging, services, and variety can be categorized under
________.
A) product
B) price
C) promotion
D) place
E) position
One of the functions performed by a PR department is ________, which involves
building and maintaining relations with legislators and government officials to
influence legislation and regulation.
A) direct marketing
B) press relations management
C) investor relations management
D) lobbying
E) public affairs management
Which of the following refers to the total combined customer lifetime value of all of the
company’s current and potential customers?
A) share of customer
B) marketing mix
C) customer equity
D) target market
E) customer-perceived value
The Sherman, Clayton, and Robinson-Patman Acts are all federal laws that were
enacted to curb the formation of ________.
A) monopolies
B) global partnerships
C) competitive markets
D) internal markets
E) intrastate partnerships
Experimental research is best suited for gathering ________ information.
A) exploratory
B) causal
C) random
D) unstructured
E) descriptive
Refer to the scenario below to answer the following question.
Giant Beanstalks is a company based in Maryland that processes and cans vegetables. It
has contracts with several large farms in Riverdale, 80 miles away from the factory, that
agree to sell their produce to Giant Beanstalks. The company’s products are available to
the public only through Greenleaf, a grocery chain with 38 stores in the country.
Which of the following is Giant Beanstalks’ upstream partner?
A) the management of Greenleaf
B) the farmers of Riverdale
C) the trucks that carry Giant Beanstalks’ products to Greenleaf
D) the end-consumers who buy the canned vegetables from Greenleaf
E) the logistics division of Giant Beanstalk
________ refers to the practice of continually changing consumer concepts of
acceptable styles to encourage more and earlier buying.
A) Perceived obsolescence
B) Technological obsolescence
C) Bait-and-switch advertising
D) Functional obsolescence
E) High-pressure selling
Which of the following best describes the role of a product steward?
A) to protect employees and laborers from harm
B) to evaluate new product ideas against a set of general criteria
C) to develop a new product concept into a physical product
D) to protect consumers from harm and the company from liability
E) to decide whether to maintain, harvest, or drop the product in the decline stage of the
PLC
________ consists of evaluating each market segment’s attractiveness and selecting one
or more segments to enter.
A) Positioning
B) Mass customization
C) Market targeting
D) Market segmentation
E) Differentiation
Which of the following is true of price changes?
A) Over-demand leads to companies initiating price cuts.
B) Changes in price do not affect a brand’s image.
C) Customer reaction to price changes is not as important as competitor reaction.
D) A drop in price can adversely affect how consumers view the brand.
E) Excess capacity is a factor that causes increases in price.
Companies with lower costs ________.
A) specialize in selling products with value-added features
B) usually market products with inferior quality, thereby justifying the low selling price
C) can set lower prices that result in smaller margins but greater sales and profits
D) tend to overprice products owing to their monopolistic advantage
E) usually set higher prices that result in higher margins
When KFC came into conflict with its franchisees over the brand’s Unthink KFC
repositioning, which emphasized grilled chicken over its traditional Kentucky fried
chicken, KFC experienced ________ conflict.
A) equilateral
B) vertical
C) multitiered
D) communal
E) horizontal
A mission statement serves as a ________.
A) statement of the organization’s net profits
B) plan for short-term sustainability
C) statement of the organization’s purpose
D) statement of the organization’s current liabilities
E) reward plan for the organization’s highly-skilled employees
________ are useful articles imprinted with an advertiser’s name, logo, or message that
are given as gifts to consumers.
A) Rebates
B) Cents-off deals
C) Premiums
D) Promotional products
E) Sweepstakes
Which of the following is a type of joint venturing?
A) trade embargo
B) licensing
C) direct investment
D) direct exporting
E) indirect exporting