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The promotional mix can be used to: (1) inform prospective buyers about the benefits
of the product; (2) __________; and (3) remind them later about the benefits they
enjoyed by using the product.
A. explain how to use the product
B. persuade them to try it
C. inform customers of complementary offerings
D. inform customers of pricing changes
E. lure customers away from competitors' products
Answer:
Jason and Lucy prepared a household budget in an attempt to manage their money
better. They prepared the following list: Monthly Income (after taxes) = $4,500;
Monthly Expenses (Necessities), which include Rent: $550, Auto Loan: $250, Student
Loan: $200, Savings: $500, Food: $200; Total Monthly Expenses = $1,700; Amount
Left Over = $2,800 (income less necessary expenses). The $2,800 they had left over is
their __________.
A. gross income
B. personal income
C. disposable income
D. discretionary income
E. profit
Answer:
Which of the following statements should a salesperson use to agree with and neutralize
an objection?
A. "I think I might be able to explain that better to you after showing you this diagram."
B. "Yes, you're right, it is lighter but that is done intentionally to make your work
easier."
C. "That's true. It does have a shorter shelf life, but that really hasn't been a problem. It
is so popular it never stays on the shelf that long anyway."
D. "Where did you hear that? Your source must have erroneous information."
E. "As I was saying, ."
Answer:
Much of Google's success is based on the ten guidelines of its corporate philosophy.
Guideline 5 states, "You don't need to __________ to need an answer."
A. be an Einstein
B. ask a question
C. be in need
D. be at your desk
E. be on your computer
Answer:
A researcher asked Kelly, as a subscriber to Fitness magazine, which ads she
remembered seeing in the most recent issue. Then Kelly was asked questions about the
content and appearance of the ads she remembered. The researcher was using
__________ to test the effectiveness of ads in the magazine.
A. inquiry testing
B. concept testing
C. portfolio testing
D. aided recall
E. unaided recall
Answer:
The marketing metrics related to a retailer's finances include all of the following
EXCEPT:
A. the markdown percentage.
B. the average length of a store visit.
C. the return on sales.
D. the gross margin.
E. the sales per employee.
Answer:
You probably own several pairs of shoes. Further, it is likely you purchased those shoes
at retail stores located in a shopping mall and not directly from the manufacturer. In
fact, most products are brought to you from a series of other individuals or firms known
as a __________.
A. marketing network
B. distribution hierarchy
C. marketing chain
D. distribution matrix
E. marketing channel
Answer:
Figure 2-7
Quadrant A in Figure 2-7 above represents a(n) __________ in a SWOT analysis.
A. Threat
B. Weakness
C. Strength
D. Opportunity
E. Market segment
Answer:
A penetration pricing policy is most likely to be effective when
A. lowering the price has only a minor effect on increasing the sales volume and
reducing the unit cost.
B. the high initial price will not attract competitors.
C. a low initial price discourages competitors from entering the market.
D. customers interpret the high price as signifying high quality.
E. enough prospective customers are willing to buy immediately at the high initial price
to make these sales profitable.
Answer:
Social responsibility is
A. the view that organizations should satisfy the needs of consumers in a way that
provides for society's well-being.
B. the fundamental, passionate, and enduring principles of an organization that guide its
conduct over time.
C. the idea that an organization should strive to satisfy the needs of consumers while
also trying to achieve the organization's goals.
D. the idea that individuals and organizations are accountable to a larger society.
E. the recognition of the need for organizations to improve the state of people, the
planet, and profit simultaneously if they are to achieve sustainable, long-term growth.
Answer:
There are four unique elements to services - intangibility, inconsistency, inseparability,
and inventory - which are referred to as the __________.
A. service mix
B. four I's of services
C. service matrix
D. 4Ps of services
E. service continuum
Answer:
Drawing conclusions about every woman who leases a car in a particular zip code from
a representative sample of 250 women in that zip code who lease a car is called
A. probability sampling.
B. nonprobability sampling.
C. random sampling.
D. statistical inference.
E. interpolation.
Answer:
The screening and evaluation stage of the new-product process involves
A. internal and external evaluations of new-product ideas.
B. product selection and budgeting projections.
C. business and cost analyses.
D. patent searches and environmental scanning.
E. idea selection and prototype development.
Answer:
Which of the following statements about penetration pricing is most accurate?
A. Penetration pricing is a profit-oriented approach to pricing.
B. Penetration pricing is a cost-oriented pricing method.
C. Penetration pricing encourages competitors to enter a market.
D. Penetration pricing is more effective in a marketplace with price-sensitive
consumers.
E. Penetration pricing usually precedes a skimming pricing.
Answer:
Mary Kay, Inc. can be classified as which type of company when marketing its products
around the world?
A. multinational firm
B. transnational firm
C. international firm
D. global marketing firm
E. multidomestic firm
Answer:
Mall intercept interviews refer to
A. impersonal data collection methods in strip shopping malls.
B. telephone interviews with consumers about their shopping center habits.
C. scientifically-selected individuals from the local community who agree to participate
in a research study and are directed to meet at a specific shopping center for the
interviews.
D. focus groups located in major shopping centers.
E. personal interviews of consumers visiting shopping centers.
Answer:
In __________, the marketing researcher tries to test ideas discovered earlier to help the
marketing manager recommend marketing actions.
A. idea generation
B. new-product concept testing
C. data mining
D. data analysis
E. idea evaluation
Answer:
The activities related to managing the store and the merchandise in the store, which
includes retail pricing, store location, retail communication, and merchandise are
referred to as the __________.
A. wheel of retailing
B. distribution plan
C. retail life cycle
D. retailing mix
E. retail store positioning
Answer:
Another name for a manufacturer's agent is a __________.
A. manufacturer's desk jobber
B. manufacturer's transport vendor
C. manufacturer's representative
D. manufacturer's broker
E. manufacturer's rack jobber
Answer:
A product refers to
A. a tangible good received in exchange for a person's time and effort.
B. intangible activities or benefits that an organization provides to satisfy consumers'
needs in exchange for money or something else of value.
C. a good that has in some way been altered, combined, or improved and sold to
organizational buyers.
D. is a thought that leads to an action such as a concept for a new invention.
E. a good, service, or idea consisting of a bundle of tangible and intangible attributes
that satisfies consumers' needs and is received in exchange for money or something else
of value.
Answer:
Comparative advertising, in which one brand is compared to another, is intended to
cause consumers to perceive differences between the products featured in the
advertising. Marketers who employ comparative advertising are trying to use
__________ to make consumers believe that their products are better than competitors'
offerings.
A. cognitive dissonance
B. selective retention
C. selective comprehension
D. stimulus generalization
E. stimulus discrimination
Answer:
High-involvement purchases typically have which of the following sets of
characteristics?
A. The item is inexpensive, widely available, or simple to use.
B. The item is inexpensive, very safe to use, or purchased with great frequency.
C. The item is expensive, new to the market, or recommended by influential personal
sources.
D. The item is expensive, can have serious personal consequences, or could reflect on
one's social image.
E. The item is inexpensive, new to the market, or is used for over five years.
Answer:
iVillage.com is a website for women that encourages its users to discuss health and
beauty, parenting, personal finances, career management and relationships. This website
is an example of __________.
A. a web community
B. spam
C. a shopping bot
D. a blog
E. a web caf
Answer:
To gauge stickiness, a company monitors
A. the average time it takes customers to make a purchase from the time they logon to a
website to the time they logoff.
B. the average time it takes for customers to move from one page of a website to
another.
C. the amount of time per month, in minutes, visitors spend on a company's website.
D. the number of visits by a unique customer to the same website before an actual
purchase is made.
E. the total time, in hours and minutes, that it takes for a customer to make an online
purchase.
Answer:
Consumers with credit cards
A. are less influenced by physical surrounding than those who pay by cash or check.
B. are influenced to a certain extent by a retailer's physical surroundings to buy more
with their credit cards than with cash.
C. purchase more than those who purchase with cash or debit cards.
D. purchase less than those who purchase with cash or debit cards.
E. purchase less when accompanied by children than when in the company of other
adults.
Answer:
A sudden drop in the average consumer income would be an example of which
environmental force?
A. economic
B. competitive
C. technological
D. social
E. regulatory
Answer:
When a retailer owns a manufacturing operation, it is referred to as
A. forward integration.
B. lateral integration.
C. a joint venture.
D. horizontal integration.
E. backward integration.
Answer:
Discounting a product when the product does not sell at the original price is referred to
as a(n) __________.
A. inverse markup
B. markdown
C. price sensitivity
D. concession pricing
E. rebate
Answer:
A product line is a group of product or service items that are closely related because
they satisfy a class of needs, are used together, are sold to the same customer group,
__________, or fall within a given price range.
A. are made of similar components
B. made from the same formulations
C. require high levels of R&D
D. have one SKU number
E. are distributed through the same type of outlets
Answer:
When developing retailing strategies, marketers use what is called the retailing mix,
which includes
A. products, services, promotions, and retail communication.
B. promotions, publicity, and press releases.
C. retail pricing, store location, retail communication, and merchandise.
D. physical environment, people, process, and productivity.
E. direct mail, online stores, traditional stores, and outlet stores.
Answer:
