The total amount of money made in one year by a person, household, or family unit is
referred to as __________ income.
A. government
B. discretionary
C. disposable
D. gross
E. livable
Answer:
Figure 17-3
Formulating the sales plan involves three tasks: (1) setting objectives; (2) organizing the
salesforce; and (3) __________.
A. hiring sales reps
B. developing the marketing plan
C. establishing the budget
D. developing account management policies
E. identifying qualified leads
Answer:
The acronym SWOT, as in SWOT analysis, stands for __________.
A. strengths, weaknesses, opportunities, and tactics
B. strengths, weaknesses, options, and tactics
C. strengths, weaknesses, opportunities, and threats
D. simple, workable, optimal, and timely
E. state the problem, work out a strategy, organize your team, and take action
Answer:
Stores that carry tremendous depth in one primary line of merchandise are referred to as
A. hypermarkets.
B. intertype outlets.
C. limited-line stores.
D. scrambled merchandise stores.
E. single-line stores.
Answer:
Determining the size of specific markets within a market-product grid is helpful in
determining which target market segments to select and
A. how to implement the 80-20 rule.
B. which products to group into meaningful categories.
C. how to implement a harvesting strategy.
D. which product groupings to offer.
E. which products to reposition.
Answer:
Simulated test markets (STMs) are often run in shopping malls where consumers are
A. asked how much a person is willing to pay for an unfamiliar item.
B. asked whether they saw the firm’s advertising campaign.
C. questioned about how often they are likely to shop in that particular location.
D. asked to identify differences between the consumer’s behavioral intention and actual
behavior regarding a firm’s new product.
E. questioned to identify product users and their likely consumption and media patterns.
Answer:
Managers often use two special indexes to help identify strong and weak market
segments in order to provide direction for marketing efforts. The two indexes focus on
__________.
A. marketing efficiency and production efficiency
B. dollar market share and unit market share
C. monthly dollar sales by channel and monthly number of units sold by channel
D. sales per square foot and same-store sales growth
E. category development and brand development
Answer:
Advertising refers to
A. any nonpersonal, indirectly paid presentation of an organization, service, or product.
B. a short-term inducement of value offered to arouse interest in buying a product or
service.
C. methods used to identify a target market for a particular product or service.
D. any paid form of nonpersonal communication about an organization, product,
service, or idea by an identified sponsor.
E. any unpaid form of personal presentation of products and services.
Answer:
A markdown refers to
A. the difference between the final selling price and the retailer’s cost.
B. the amount the manufacturer adds to achieve the desired suggested retail price.
C. discounting a product when it does not sell at the original price and an adjustment is
necessary.
D. the lowest price to which a retailer can reduce a sales ticket and still make a profit.
E. the net margin.
Answer:
Income used to buy luxury items such as a Cunard cruise is referred to as __________.
A. gross income
B. disposable income
C. surplus income
D. wealth income
E. discretionary income
Answer:
Which of the following conditions are necessary for marketing to occur?
A. a changing environment, a method of assessing needs, a way to communicate, and
an exchange location
B. parties with cash or credit, a product, a reasonable price, and a place to make an
exchange
C. a quality product, a fair price, a clever method of promotion, and a place where a
customer can buy the product
D. two or more parties with unsatisfied needs, a desire and an ability to satisfy them, a
way to communicate, and something to exchange
E. an ability to see a trend within an environmental force, a product, and an affordable
and actionable advertising campaign
Answer:
Economic infrastructure refers to
A. a nation’s military-industrial complex.
B. a country’s governmental services.
C. the people and the wealth of a nation.
D. a country’s communications, transportation, financial, and distribution systems.
E. all of a country’s natural resources, whether or not they are currently being exploited.
Answer:
During the third stage of the organizational buying decision process, the organization
engages in
A. information search.
B. postpurchase behavior.
C. alternative evaluation.
D. purchase decision.
E. problem recognition.
Answer:
One way neighborhood grocers can take advantage of volume discounts commonly
available to corporate chains is to
A. purchase a franchise membership.
B. become a subsidiary of a larger supermarket chain like Kroger.
C. join a professional merchant association and hire food brokers to negotiate lower
prices for produce and dry goods.
D. create a grocery networking system to exchange coupon vouchers.
E. participate in a retailer-sponsored cooperative with other independent grocers.
Answer:
All of the following are environmental forces that affect an organization EXCEPT:
A. economic
B. geographical
C. social
D. regulatory
E. technological
Answer:
Bribery is most likely to occur when
A. industries experience little competition.
B. the country has reached a high level of economic development.
C. industries are high-tech in nature.
D. industries operate in an oligarchic competitive environment.
E. industries experience intense competition.
Answer:
The actions taken during the evaluation phase of the strategic marketing process
include: (1) compare results with plans to identify deviations and (2) __________.
A. find points of difference
B. execute the marketing program
C. track sales and revenues and compare with competitors
D. develop the budget by estimating revenues, expenses, and profits
E. exploit positive deviations and correct negative ones
Answer:
Interactive marketing refers to
A. the two-way buyer-seller electronic communication in a computer-mediated
environment in which the buyer controls the kind and amount of information received
from the seller.
B. the two-way buyer-seller electronic communication in a computer-mediated
environment in which the seller controls the kind and amount of information received
from the buyer.
C. the interactive, Internet-enabled system that allows customers to design their own
products by answering questions and choosing from a menu of attributes, prices, and
delivery options.
D. the consumer-initiated practice of generating content on a marketer’s website that is
custom-tailored to an individual’s specific needs and preferences.
E. an Internet-enabled digital environment characterized by face-to-screen exchange
relationships and electronic images and offerings.
Answer:
The intangibility element of a service refers to the fact that it
A. has value that can only be determined by using subjective criteria.
B. can’t be held, seen, or touched before the purchase decision.
C. requires the ability to provide the service even in times of no demand.
D. can maintain or accumulate good will with customers.
E. can be objectively evaluated.
Answer:
In evaluating whether its Facebook and Twitter social media programs are working
well, Carmex considered using various marketing metrics. One metric it chose was
__________, which quantifies the number of Carmex mentions on the Internet as a
percentage of all mentions of major lip balm brands.
A. Carmex sentiment
B. Carmex Twitter followers
C. Carmex conversation velocity
D. Carmex Facebook likes
E. Carmex share of voice
Answer:
An industrial buying practice in which two organizations agree to purchase each other’s
products and services is referred to as __________.
A. a tying arrangement
B. exclusive dealing
C. reciprocity
D. a supply partnership
E. noncompetitive bidding
Answer:
The acronym NAICS stands for
A. National Association of Industrial Compliance Standards.
B. National Association of Industrial Communication Systems.
C. North American Industrial Communication Standards.
D. North American Industry Classification System.
E. North Atlantic Industrial Classification System.
Answer:
Figure 17-3
Formulating the sales plan involves three tasks: (1) __________; (2) organizing the
salesforce; and (3) developing account management policies.
A. hiring sales reps
B. developing the sales plan
C. establishing the budget
D. setting objectives
E. identifying qualified leads
Answer:
In terms of promotion, which of the following type of consumer product stresses status
and brand uniqueness?
A. specialty product
B. convenience product
C. shopping product
D. unsought product
E. discretionary product
Answer:
Retail outlets, like products, experience the process of growth and decline, which is
referred to as the
A. retail life cycle.
B. wheel of retailing.
C. product life cycle.
D. retail continuum.
E. retail life matrix.
Answer:
Which of the following statements concerning evaluative criteria is most accurate?
A. If the alternatives in a consideration set do not meet the requirements of the
evaluative criteria, the entire decision process is usually discontinued.
B. Consumers often have several criteria for evaluating a single product.
C. Evaluative criteria represent objective rather than subjective attributes.
D. Evaluative criteria represent subjective rather than objective attributes.
E. Ultimately, the most important evaluative criterion is price.
Answer:
Figure 6-5
Figure 6-5 above outlines the distribution channels through which a product
manufactured in one country must travel to reach its destination in another country. C
represents the
A. seller.
B. seller’s international marketing headquarters.
C. channels within foreign nations.
D. final consumer.
E. channels between nations.
Answer:
A recent Disney Online M.O.M. (Mom on a Mission) study found that today’s mother
__________.
A. uses the Internet makes her life more manageable so she can spend more time with
her family
B. is primarily a surfer of the Internet, going online without a specific task or goal in
mind
C. spends an average of almost 20 hours online per week
D. spends most of her time online between the hours of 6:00 p.m. and 11:00 p.m.
E. does not use the Internet to search for information about her child’s/children’s health
Answer:
The corporate level refers to the level in an organization where top management
A. develops marketing strategies and tactics for the marketing department to
implement.
B. directs overall strategy for the entire organization.
C. executes all marketing program actions to ensure consistency of performance.
D. develops overall sales projections not only for the short term but also for a period of
at least two to five years.
E. supervises the hiring, firing, and training of all marketing department personnel.
Answer:
Which of the following would a marketer use as a synonym for controllable marketing
mix factors?
A. the four Ps of marketing
B. environmental forces
C. macromarketing forces
D. marketing management factors
E. micromarketing factors
Answer:
The U.S. Rice Millers’ Association claims that if the Japanese rice market were opened
to imports by lowering __________, lower prices would save Japanese consumers $6
billion annually and the United States would gain a large share of the Japanese rice
market.
A. boycotts
B. quotas
C. sanctions
D. tariffs
E. subsidies
Answer:
While watching TV one evening, your stomach growls. You see an ad for Subway. You
walk to the Subway shop and buy a sandwich, which tastes great. In terms of behavioral
learning, the great taste of the sandwich is a(n) __________.
A. reinforcement
B. achievement
C. drive
D. cue
E. response
Answer:
The level in an organization where top management directs overall strategy for the
entire organization is referred to as the
A. corporate level.
B. functional level.
C. directive level.
D. strategic level.
E. tactical level.
Answer: