Which of the following statements is true about incomes in the United States?
a. The average family incomes rose by one percent in 2012.
b. The median household income in almost the same across different states.
c. Most individuals in the United States prefer to wait for high-paying jobs to taking up
lesser paying jobs.
d. The median household incomes have peaked in the United States in the recent years.
Answer:
A proper promotional mix is one that _____.
a. focuses on using a pull strategy for selling products
b. utilizes all forms of promotion equally
c. focuses on using a push strategy for selling products
d. meets the needs of the target market
Answer:
Much of the growth in social media sites can be attributed to:
a. good old-fashioned word-of-mouth promotion.
b. new platforms like tablets and smartphones.
c. media hype.
d. reduced demand for crowdsourcing.
Answer:
_____ are typically categorized by a sudden and unpredictable spike in sales followed
by a rather abrupt decline.
a. Consumer durable goods
b. Fad items
c. Product trends
d. Product life cycles
Answer:
Which of the following is a difference between a push and a pull strategy?
a. Social media is used in a push strategy, while personal selling is used in a pull
strategy.
b. End consumers are targeted in a push strategy, while wholesalers are targeted in a
pull strategy.
c. Push strategies focus on content marketing, while pull strategies focus on personal
selling.
d. Retailers are targeted in a push strategy, while opinion leaders are targeted in a pull
strategy.
Answer:
Bethany follows several blogs every day and uses YouTube frequently to watch latest
videos. She does not have her own Web site, and she almost never posts any comments
on the sites she visits. She just enjoys reading and watching the content on popular
sites. Bethany would be best characterized as a _____.
a. creator
b. spectator
c. collector
d. joiner
Answer:
The advertising response function helps marketers:
a. create ads that will be noticed by consumers each time the ad runs.
b. use their advertising budgets wisely.
c. calculate the break-even points for each product being advertised.
d. determine the reach and frequency of a specific medium
Answer:
Which of the following statements is true about the tweens in America?
a. They have grown up with and value traditional forms of media more than any other
cohort.
b. They are making an effort to look more mature at a younger age.
c. They are a larger cohort than Millennials.
d. They are still not familiar with the use of social media and mobile technologies.
Answer:
Which of the following statements is true about Millennials?
a. They spend more time watching television or reading newspapers than surfing the
Web.
b. They are a smaller cohort than Baby Boomers.
c. They are the group most affected by the Great Recession of 2008-2009.
d. They are aged between forty-five and sixty years.
Answer:
Corn refiners buy shelled corn and convert it into a variety of products, including
high-fructose corn syrup. The refiners then sell these products to companies for use in
foods and beverages. Based on this information, which sector of the business market is
most likely represented by the corn refiners?
a. Resellers
b. Producers
c. Distributors
d. Governments
Answer:
In the context of measuring online success, the _____ is important because big spenders
can be the most profitable customers for a business.
a. conversion task
b. frequency of sales
c. monetary value of sales
d. recencyrate
Answer:
A market is composed of people or organizations who have the ability to buy the
products they desire.
a. True
b. False
Answer:
Vaikel Inc., an automobile manufacturing company, conducts a survey to find out
people’s opinion about its latest car, Vaikel 6.0, and their level of satisfaction with it. It
requests a few people who recently purchased Vaikel 6.0 to participate in the survey and
asks them to log on to a certain Web site at a given time. After they log on to the site, an
online moderator runs a discussion about the car and allows the participants to respond.
In this case, Vaikel uses a(n) _____ for conducting a survey.
a. online panel provider
b. Web community research program
c. online focus group
d. Web survey system
Answer:
Social influences on consumer buying decisions are most likely to help in:
a. reducing a feeling of uncertainty among consumers.
b. making impulse purchase decisions.
c. recognizing one’s feelings and formulating opinions.
d. shaping human behavior as they are transmitted from one generation to the next.
Answer:
Which of the following statements is true about teens?
a. Most teens prefer to shop online than in stores.
b. Teens consider shopping to be a social sport whether online or at the mall.
c. Teens spend more on food than any other cohort group.
d. Most teens prefer watching television or listening to radio than surfing the Web and
on social media.
Answer:
The _____ of a service most clearly reveals the relationship between its target market
strategy and its distribution strategy.
a. tangibility
b. location
c. customization
d. separability
Answer:
Why do marketers who spend significant time promoting mass-marketing efforts need
to be aware of customer relationship management (CRM)?
a. One-size-fits-all marketing is no longer relevant because consumers want to be
treated as the individuals they are.
b. The time that consumers spend on making purchase decisions have risen in recent
times.
c. Mass-media approaches to marketing will rise in importance as technology allows
marketers to collect detailed information.
d. The importance of rewarding individual consumers for their loyalty has declined in
the recent years.
Answer:
Marketers find social news sites useful for promoting campaigns, creating
conversations around related issues, and building Web site traffic.
a. True
b. False
Answer:
Value-based pricing focuses on the cost of a product to the supplier more than the value
of a product to the customer.
a. True
b. False
Answer:
The maker of Protect Your Hands hand sanitizer decided to test its consumers’ reactions
to one of its new products, Protect Your Hands Sanitizing Wipes. It sent out flyers
advertising several of the company’s products along with the new product to select
customers of the target market. The flyer also asked the customers to shop in a mock
store filled with real products, including the new product. In this case, the maker of
Protect Your Hands has used -_____.
a. crowdsourcing
b. simulated market testing
c. concept testing
d. product simulation
Answer:
Diversification strategies involve increasing sales of existing products in existing
markets.
a. True
b. False
Answer:
An organization’s product mix includes all of the products it sells.
a. True
b. False
Answer:
Business firms can stimulate innovation by:
a. hiring employees with low risk tolerance.
b. telling employees that they have the freedom to fail.
c. using micromanagement techniques.
d. curbing research activities.
Answer:
Codes that are too detailed encourage employees to substitute rules for judgment.
a. True
b. False
Answer:
Brewdom, a leading multinational beverage corporation, has teamed up with Wealth
from Waste to develop a plan to improve the reverse logistics of used beverage bottles
for recycle and reuse. Together, Brewdom and Wealth from Waste have plans to deploy
thousands of “Recycle Machines” in both permanent and temporary locations that will
take empty bottles and provide rewards to consumers who participate. These companies
are practicing _____.
a. sustainable supply chain management
b. flexible manufacturing
c. contract manufacturing
d. just-in-time inventory management
Answer:
In the context of marketing planning, implementation involves:
a. allocating resources.
b. identifying market segments.
c. defining the business mission.
d. assessing internal capabilities.
Answer:
Blogs allow marketers to create content in the form of posts, which ideally build trust
and a sense of authenticity in customers.
a. True
b. False
Answer:
Felosky Inc., an animal-welfare organization that specializes in cats-care, uses its
Facebook page to find cat veterinarians, cat-food providers, and care takers, who could
collaborate with the team to work on a project. The process used by Felosky Inc. is
known as _____.
a. personal selling
b. social media monitoring
c. crowdsourcing
d. media sharing
Answer:
The customer relationship management process enables companies to prioritize their
marketing focus on different customer groups according to each group’s long-term
value to the company or supply chain.
a. True
b. False
Answer:
_____ is a type of co-branding that occurs when two brands receiving equal treatment
borrow from each other’s brand equity.
a. Ingredient branding
b. Cooperative branding
c. Complimentary branding
d. Family branding
Answer:
Melina sees herself as a trendsetter in fashion amid her friends and family. Though she
dresses in a subtle manner to work, she tries to set a trend portraying herself as a
fashionista. In this case, Melina is trying to project her _____.
a. real self-image
b. personality
c. ideal self-image
d. social class
Answer: