A consumer’s subjective perception of how a product or brand performs on different
attributes based on personal experience, advertising, and discussions with other people
are referred to as __________.
A. values
B. attitudes
C. beliefs
D. predispositions
E. opinions
Answer:
One way a company can benefit from implementing a market penetration strategy
would be to
A. sell more products at a lower price in new markets.
B. sell the same amount of product at a higher price in the same market.
C. find a new market and sell the product at a much higher price.
D. alter the product and sell it to a new market.
E. reduce promotion and distribution costs to improve production efficiencies for the
product in reaching new markets.
Answer:
Ford dealerships represent which type of franchise?
A. business-format franchise
B. manufacturing franchise
C. general service franchise
D. product-distribution franchise
E. business franchise venture
Answer:
The fifth stage in the hierarchy of effects is __________.
A. interest
B. awareness
C. adoption
D. trial
E. evaluation
Answer:
Hot Pockets Sandwich Photo
A television advertisement shows several teenagers searching through the refrigerator
for something to satisfy their hunger. The refrigerator offers the teenagers many
alternatives – celery, bologna, cottage cheese, and box of Hot Pockets Bacon Cheddar
Cheese Melt sandwiches (see the photo above). The ad, which shows the teens happily
selecting the Hot Pockets sandwiches, appeals to the consumers’ __________ for
sustenance to satisfy their hunger and attempts to shape their __________ for the
advertised product.
A. needs; wants
B. wants; needs
C. wants; cravings
D. cravings; needs
E. needs; preferences
Answer:
Combining the convenient location of a strip mall with the influential draw of national
stores results in shopping areas known as
A. suburban malls.
B. warehouse malls.
C. power centers.
D. retail malls.
E. cluster malls.
Answer:
Which of the following characteristics of electronic commerce creates customer value
by contributing to time and place utility?
A. Electronic commerce makes products and services available to customers faster.
B. Comparison shopping is easier in the marketspace than in the marketplace.
C. Customers can shop in the marketspace anywhere at any time.
D. Products available in the marketspace are more easily customized.
E. Consumers can tell marketers exactly what they want in the marketspace.
Answer:
As a salesperson asks questions about a prospect’s transportation system, the prospect
says, “What I really want is reliable transportation at the lowest price I can get.” The
salesperson stops asking questions and pulls out a comparative price list that shows her
company’s transportation is the lowest priced and most reliable on the market. The
salesperson has engaged in
A. adaptive selling.
B. suggestive selling.
C. formula selling.
D. consultative selling.
E. relationship selling.
Answer:
A level of distribution density whereby a firm tries to place its products in a few retail
outlets in a specific geographical area is referred to as __________.
A. intensive distribution
B. extensive distribution
C. selective distribution
D. exclusive distribution
E. concentrated distribution
Answer:
Flexible Pricing Chart
Consider the dynamic pricing chart above, which shows the results of a National
Bureau of Economic Research study of 750,000 car purchases. The data indicate that
some groups of car buyers, on average, paid roughly $105, $423, and $483 respectively
for a new car in the $21,000 range than the typical purchaser. Who are the car buyers in
B?
A. women
B. the elderly
C. Hispanics
D. African Americans
E. Asian Americans
Answer:
Two of the largest portals for Internet advertising are _________ and __________; both
try to filter out illegitimate clicks but advertisers on the sites still claim to be victims of
click fraud.
A. Google; AOL
B. Google; Pinterest
C. Google; MSN
D. Google; Yahoo!
E. Google; Bing
Answer:
Among business products, printer paper would be classified as which type of support
product?
A. installations
B. accessory equipment
C. supplies
D. industrial services
E. raw materials
Answer:
Reducing the package content without changing package size while maintaining or
increasing the package price is referred to as __________.
A. outsourcing
B. trading up
C. shrinkage
D. upsizing
E. downsizing
Answer:
The six reasons why consumers shop and buy online are
A. interest, personalization, cost, control, speed, and customization.
B. customization, customerization, price, service, entertainment, and convenience.
C. content, context, utility, entertainment, communication, and cost.
D. convenience, choice, customization, communication, cost, and control.
E. control, utility, interest, personalization, choice, and flexibility.
Answer:
Supermarket managers use standard markup pricing because it is particularly suited to
situations when
A. there is a large number of products and estimating the demand for each would be
difficult and time consuming.
B. there is a large number of product lines, all with basically the same product
attributes.
C. there is a specific profit goal that needs to be achieved.
D. there is a policy of selling every item in a product line at the same price regardless of
the product class.
E. the products are perishable or seasonal.
Answer:
Head-to-head positioning requires a product to
A. compete with products from competitors of the same size and country of origin.
B. compete with competitors on similar product attributes but in a different market.
C. compete with competitors on similar product attributes in the same market.
D. compete against very similar products from its own company.
E. compete against a single competitor with an identical offering.
Answer:
The result of offers that contain all the information necessary for a prospective buyer to
make a decision to purchase and complete the transaction is referred to as __________.
A. direct orders
B. lead generation
C. traffic generation
D. indirect orders
E. prospect bid
Answer:
Florida Orange Growers Association advocates drinking orange juice throughout the
day rather than for breakfast only, in a market modification strategy known as
A. finding new users.
B. personalizing the use situation.
C. increasing a product’s use by existing customers.
D. modifying the product.
E. reacting to competitors’ positions.
Answer:
Which of the following is NOT a strategy used by marketers of high-involvement
offerings?
A. use personal selling to provide consumers with information
B. use social media to create online experiences for the brand
C. avoid stockout situations so that buyers don’t substitute a competing brand
D. use Internet search engines such as Google to assist buyers
E. run ads to provide consumers with information
Answer:
Pauline received a postcard from a local antique mall. The card invited her to attend an
invitation-only open house at the mall and receive a 10 percent discount on her first
purchase that day. She went to the antique mall the next day to consider buying an
antique lamp. With respect to Pauline, the postcard from the antique mall was a form of
direct marketing used to __________.
A. generate direct orders
B. generate leads
C. create awareness
D. generate traffic
E. create a new image
Answer:
Advertisers use a mix of media forms and vehicles to maximize the exposure of the
message to the target audience while at the same time minimizing
A. reach.
B. frequency.
C. costs.
D. ratings.
E. cost per share point.
Answer:
In terms of the online customer experience, connection is defined as the
A. network of formal linkages between a company’s website and other sites.
B. text, video, audio, and graphics that the website contains which appeal directly to the
consumer.
C. website’s capabilities to enable commercial transactions through credit, debit, or
transfer payments (PayPal, etc.).
D. speed and ease with which a customer can move between pages on a website.
E. website’s ability to tailor itself to different users or to allow users to personalize the
site.
Answer:
Jim Smith is an avid fly fisherman who lives in Deer Key, FL. For his hobby, Jim needs
large rubber rafts, hip waders, special fishing rods, reels, line, and an assortment of
fishing tackle and lures. There are no sporting goods stores in Deer Key, so Jim orders
his fishing supplies from the L.L. Bean catalog. His supplies are generally delivered to
his home within 72 hours. Jim is using a __________ to satisfy his fishing supply
needs.
A. home delivery retailer
B. quick response retailer
C. direct-mail marketer
D. flexible response marketer
E. regional marketer
Answer:
Consultative selling style is very prominent in
A. business-to-business marketing.
B. international marketing.
C. multichannel marketing.
D. consumer-to-consumer marketing.
E. business-to-consumer marketing.
Answer:
What are the three steps involved in the planning phase of the strategic marketing
process?
A. Step 1: situation (SWOT) analysis; Step 2: market-product focus and goal setting;
and Step 3: the marketing program
B. Step 1: analysis; Step 2: planning; and Step 3: implementation
C. Step 1: set market and product goals; Step 2: select target markets and find points of
difference; and Step 3: position the product
D. Step 1: identify industry trends; Step 2: analyze competitors; and Step 3: assess own
organization
E. Step 1: Why do we exist?; Step 2: What will we do?; and Step 3: How will we do it?
Answer:
In terms of promotion, which of the following type of consumer product stresses
product differentiation from competitors?
A. shopping product
B. convenience product
C. specialty product
D. unsought product
E. discretionary product
Answer:
Coupons, rebates, samples, and sweepstakes are all examples of __________.
A. endorsements
B. sponsorships
C. free publicity
D. purchase aids
E. sales promotions
Answer:
What is another term that is sometimes used interchangeably with social media?
A. net platforms
B. Web 3.0
C. user generated content
D. user platforms
E. peer-to-peer networking
Answer:
Profit refers to
A. the point at which a company’s assets equal its liabilities plus shareholder equity.
B. the difference between the list and final price of a product or service.
C. the money earned when the economic order quantity is minimized.
D. the money left over after a business firm’s total expenses are subtracted from its total
revenues.
E. the total amount of revenue accrued through product sales or service distribution.
Answer:
The late Steve Jobs oversaw or invented innovations that revolutionized six industries.
Which industry below is NOT one of them?
A. music
B. smartphones
C. personal computers
D. cable television
E. tablet devices
Answer:
The first stage in the hierarchy of effects is __________.
A. interest
B. awareness
C. adoption
D. trial
E. evaluation
Answer:
An organization’s special capabilities, including skills, technology, and resources that
distinguish it from other organizations and provide customer value, are referred to as
A. points of differences.
B. sustainable advantages.
C. core values.
D. points of similarity.
E. competencies.
Answer: