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In general, marketers that seek greater control over their marketing mixes in the
international environment will:
A. hire more marketing managers.
B. invest more financial resources and take greater risks.
C. use intensive distribution.
D. choose to export or license.
E. set up traditional global channels.
Which of the following would be relevant in the marketing company era?
A. Bringing all marketing activities together under the control of one department.
B. Planning for five or more years ahead.
C. Reselling goods to consumers and intermediaries.
D. Focusing on production.
"Personal selling:"
A. involves direct spoken communication between sellers and potential customers.
B. costs less than advertising for reaching a large, widespread market.
C. tries to communicate with many customers at the same time.
D. refers to "promoting" at trade shows, demonstrations, and contests.
E. All of these alternatives for "personal selling" are correct.
A sales manager's CONTROL over his salespeople:
A. is strongest with order getters who are paid on straight commission.
B. cannot be obtained with combination plans.
C. can be the strongest with a straight salary plan.
D. is small; it's the responsibility of the marketing manager.
E. is not too important if the salespeople regularly meet their sales quotas.
The Clayton Act specifically aims at:
A. tying contracts.
B. price discrimination by manufacturers.
C. exclusive dealing contracts limiting a buyer's sources of supply.
D. All of these are correct.
Juan Quito, marketing manager at Branded Food Co., reviewed his ______, the
up-to-the-minute marketing data on his computer screen. It was organized in an
easy-to-read format and customized to his area of responsibility.
A. intranet
B. marketing dashboard
C. internal data sources
D. data warehouse
E. internal search engine
Regarding the five stages in marketing evolution,
A. in the marketing department era, firms do both short-run and long-run planning.
B. the first era to evolve was the sales era.
C. in the marketing company era, firms do short-run planning only.
D. most firms operate in the production era.
E. None of these responses is true.
A "product-market" is a market in which:
A. all sellers offer exactly the same product.
B. one firm has achieved a competitive advantage.
C. all sellers offer products that are unique and innovative.
D. sellers offer very close substitute ways of satisfying potential customers' needs.
E. sellers offer substitute products which are quite different physically or conceptually.
Which of the following laws specifically makes illegal any price discrimination which
injures competition?
A. Magnuson-Moss Act
B. Robinson-Patman Act
C. Wheeler-Lea Act
D. FTC Act
E. Sherman Act
The "universal functions of marketing" can be performed by:
A. producers.
B. intermediaries.
C. consumers.
D. collaborators.
E. All of these.
Tamika White is a sales associate for a prestigious jewelry store. When she started with
the store, she relied almost completely on serving customers who just happened to walk
into the store and who knew exactly what they wantedall she had to do was ring up the
sale. With experience, she began to gather information about her customers and use
them as a source of referrals. She now maintains a large database of her current
customers, regularly communicates with them to keep track of their needs, and actively
solicits referrals to new customers. When she gets a new referral, Tamika sends the
prospective client an invitation to visit the store so that she can work with him/her
personally. As a result, her sales are almost all from current customers and referrals,
with almost no sales from casual "walk-in" customers. Tamika started out as a(n)
__________________, but has now become a(n) _______________.
A. Order getter; supporting salesperson
B. Order taker; supporting salesperson
C. Supporting salesperson; order taker
D. Order taker; order getter
E. Order getter; order taker
Which of the following is true of direct distribution?
A. It requires a significant investment in facilities.
B. It reduces a producer's need for working capital.
C. Direct distribution always serves customer needs better and at a lower cost.
D. Most firms selling consumer products rely on direct distribution.
E. It is easy to change customer buying patterns from indirect distribution to direct
distribution.
The total stream of purchases that a single customer could contribute to a company over
the length of the relationship is called _____.
A. customer equity
B. customer lifetime value
C. customer service
D. customer satisfaction
E. customer feedback
MACRO-marketing:
A. is probably best evaluated by how individual consumer-citizens vote.
B. can be evaluated with quantitative measures of consumer satisfaction.
C. is concerned with how efficiently individual companies use their resources.
D. is easier to evaluate than micro-marketing.
E. None of these alternatives is correct.
In conditions of monopolistic competition, marketing:
A. may result in lower consumer prices in the long run.
B. may contribute to higher profits for successful firms.
C. may spur economic growth.
D. may cut unemployment.
E. All of these alternatives are correct.
The "universal functions of marketing":
A. can be eliminated in advanced MACRO-marketing systems.
B. are performed differently and by different parties in different economies.
C. are never performed by consumers.
D. create various separations and discrepancies between producers and consumers.
Expanded assortment, reduced margins, and more information are characteristics of
A. club stores.
B. specialty shops.
C. mail order.
D. the Internet.
E. department stores.
Health Care Products Company has noticed that in one of its product-markets industry
sales have leveled off and competition has been getting tougher. This product-market
appears to be in the ____ stage of the product life cycle.
A. market maturity
B. market introduction
C. market growth
D. sales decline
E. market decline
Radio frequency identification tags can
A. make it easy for computers to monitor inventory.
B. help computers to order needed stock.
C. track storing costs.
D. transmit details about carton contents.
E. All of these alternatives are correct for RFID tags.
A virtual trade show in the farm equipment industry would most likely be targeted to
which of the following?
A. Industrial customers whose revenue exceeds $1 million in sales each year
B. Industrial customers who are transitioning from one industry segment to another
C. Industrial customers who lack the resources to attend in-person trade shows
D. Individual customers who prefer to meet with reps in person than online
E. Individual customers who compete to be admitted to attend lectures and exhibits
The selling formula approach
A. makes some general benefit statements to get the customer's attention and interest.
B. starts with a prepared presentation outline approach and leads the customer through
some logical steps to a final close.
C. involves developing a good understanding of the individual customer's needs before
trying to close the sale.
D. uses a memorized presentation that is not adapted to each individual customer.
E. is a problem-solving approach in which the customer and salesperson work together
to satisfy the customer's needs.
The Wall Street Journal has been trying to attract new customers by promoting its
newspaper for student use in business courses. This is an example of
A. product development.
B. diversification.
C. market penetration.
D. market development.
Which of the following statements is true regarding the length of product life cycles?
A. Product life cycles last 5 years for each product idea.
B. Product life cycles average 90 days.
C. Movies have very long product life cycles.
D. Product life cycles vary in length but are generally getting shorter.
E. Product life cycles will be identical in length across every geographic region since
the cycle applies to one product idea or category.
When marketing people do long-range planning and the whole company is guided by
the "marketing concept," the company has entered the ______________ era.
A. production
B. customer satisfaction
C. marketing company
D. consumerism
E. marketing department
Business product classes
A. are based on where buyers shop for products.
B. are based on how products will be used.
C. are based on the buying situationwhether the decision is new task, straight rebuy, or
modified rebuy.
D. are based on whether the price is easy to compare.
E. None of these alternatives is a good answer.
Regarding sales force payment methods:
A. it is common to sacrifice some simplicity to gain more flexibility, incentive, or
control.
B. combination plans offer some degree of security, incentive, and control.
C. straight commission offers the most incentive.
D. straight salary provides the most security and control.
E. All of these alternatives are correct.
A firm generates a monthly profit of $160,000 dollars. If the 80/20 rule applies to this
firm's products, which of the following statement is true?
A. The firm generates $160,000 in profit from 80% of its products.
B. The firm generates $128,000 in profit from 80% of its products.
C. The firm generates $128,000 in profit from 20% of its products.
D. The firm generates $80,000 in profit from 20% of its products.
E. The firm generates $64,000 in profit from 20% of its products.
Which of the following statements concerning "negotiated price" is FALSE?
A. The negotiated price is set by bargaining between the buyer and the seller.
B. Negotiated pricing is not a demand-oriented approach.
C. Bargaining may involve the whole marketing mix, not just the price level.
D. Sellers must know their costs to negotiate effectively.
E. None of these statements about "negotiated price" is FALSE.
A leading hard-disk manufacturer introduces a new line of high-capacity disk drivers.
After selling to elite customers at a high price point, the company slowly reduces its
prices over a period of time. The company is engaging in
A. single pricing.
B. introductory price dealing.
C. price skimming.
D. penetration pricing.
E. predatory pricing.
Scrambled merchandising is carrying
A. any product lines that a store thinks that it can sell profitably.
B. discounted product lines.
C. a specific product line and offering yearly discounts.
D. a number of product lines and offering a clearance sale twice a year.
E. a limited product line at a high price aimed at a small number of consumers.
Which of the following observations about the total cost approach is NOT true?
A. Includes transportation costs.
B. Helps find the lowest total cost for the right service level.
C. Focuses on direct costs and doesn't consider the possible costs of lost sales.
D. Uses the tools of cost accounting and economics.
E. Involves evaluating each possible physical distribution system and identifying all of
the costs of each alternative.
The text's "Toddler University" example shows that:
A. no mass market exists for general-purpose baby shoes.
B. the needs of a target market determine the nature of the appropriate marketing mix.
C. a small producer can't compete effectively against large competitors.
D. no target market exists for high-quality baby shoes.
E. All of these are true.
Searching the Internet, reviewing secondary data, and monitoring "chatter" on the web
are inexpensive and informal ways for marketers to:
A. use a decision support system.
B. perform a situation analysis.
C. perform a focus group interview.
D. join a market research online community (MROC).
E. interpret data.
The combined target market approach:
A. tends to focus on small, homogeneous market segments.
B. aims at several target markets and offers each target market a unique marketing mix.
C. tries to improve the general appeal of a firm's basic marketing mix rather than tailor
it to meet the strongly felt needs of some people.
D. works well only when each submarket of a product-market has a different demand
curve.
E. None of these alternatives is correct for the combined target market approach.
