The primary function of most wholesalers is to:
a. reduce a retailer’s warehousing expenses.
b. support manufacturers by assisting with marketing strategy, especially the
distribution component.
c. provide information system tracking of inventory for the ultimate consumer.
d. perform physical distribution of products from manufacturers to retailers.
e. understand the businesses of the manufacturers.
Cognitive, affective, and behavioral are the three major components of:
a. self-concept.
b. motives.
c. selective retention.
d. consumer socialization.
e. attitudes.
The business analysis phase of the new-product development process provides a
tentative sketch of a product’s profitability.
a. True
b. False
Word-of-mouth communication is not especially important when people are choosing
restaurants and automotive, medical, and personal services such as hair care.
a. True
b. False
The government decides to purchase a new fleet of fighter jets for the U.S. Air Force.
Which of the following types of buying procedure is the government most likely to use?
a. The government will request bids from all companies on its qualified bidder list.
b. It will contact whatever company made the last jets and have them develop the new
ones.
c. Ads will be placed in the top five circulated U.S. newspapers for a company to
produce the jets.
d. The government will select a few firms and enter into negotiations with them until
the contract is awarded.
e. The contract will go to the first company that submits a reasonable bid for the desired
jets.
The phase of the new-product development process when an organization determines
the technical feasibility of producing a product at a cost that results in a reasonable
selling price is:
a. test marketing.
b. commercialization. c. concept testing.
d. product development. e. business analysis.
Functional modifications of existing products help an organization achieve and
maintain a progressive image.
a. True
b. False
If Hefty Bags expresses concern that its products are having too great an impact on the
pollution of ground water under landfills, this concern is directly related to the firm’s:
a. social responsibility.
b. marketing concept.
c. legal responsibility.
d. ethical responsibility.
e. corporate benevolence.
Retail positioning involves identifying an unserved or underserved market segment.
a. True
b. False
Social networking sites are useful for large business, but are not financially feasible for
small businesses.
a. True
b. False
Pricing decisions can be based on determining whether the demand for a product is
price elastic or price inelastic.
a. True
b. False
When a company promotes its position on a public issue, this is specifically referred to
as advertising.
a. institutional
b. product
c. advocacy
d. issue
e. competitive
Since Victoria’s Secret has decided to use nonÂprice competition, it distinguishes its
brand through all of the following except__________-.
a. distinctive product features.
b. exceptional service.
c. rebates.
d. variety and selection.
e. product quality and style.
The number of firms that control the supply of a product may affect the strength of
competition.
a. True
b. False