Which of the following is a characteristic of the growth stage of the product life cycle?
a. Advertising emphasis switches to primary demand.
b. a growing proportion of initial purchasers to repeat purchasers
c. addition of new or modified product features
d. Profit margins increase as sales increase.
e. There are a limited number of retail outlets for greater quality control.
Answer:
All of the following would be a logical way to group the products Wendy’s sells at its
restaurants EXCEPT:
a. dinner
b. burgers
c. breakfast
d. between-meal snacks
e. lunch
Answer:
“Have you been to a dentist within the past 6 months? ___ Yes ___ No?” is an example
of which type of question?
a. Likert scale
b. semantic differential
c. dichotomous
d. open-ended
e. evaluative
Answer:
Figure 1.B
With respect to Figure 1.B above, the pie ‘slice” labeled “D,” or __________, has 8% of
the total advertising expenditures.
a. newspapers
b. radio
c. television
d. direct mail
e. magazines
Answer:
The third step in segmenting and targeting markets that link customer needs to
marketing actions is to __________.
a. group potential buyers into segments
b. group products to be sold into categories
c. select target markets
d. develop a market-product grid and estimate size of markets
e. take marketing actions to reach target markets
Answer:
Walmart lies on the border between __________.
a. oligopoly and pure monopoly
b. monopolistic competition and pure monopoly
c. pure competition and monopolistic competition
d. monopolistic competition and oligopoly
e. pure competition and pure monopoly
Answer:
A __________ website is essentially an electronic storefront with the primary purpose
of converting an online browser into an online, catalog, or in-store buyer.
a. multichannel
b. transactional
c. promotional
d. intermediary
e. direct selling
Answer:
Elizabeth Sands has decided to purchase a new electric blender and plans to call several
friends for updated information about alternative brands. She is not concerned about
where she buys it as long as she receives a very liberal return policy should anything go
wrong. In making her decision, Elizabeth will engage in which of the following
problem solving variations?
a. limited problem solving
b. extended problem solving
c. routine problem solving
d. alternative problem solving
e. integrated problem solving
Answer:
To avoid new-product failure, new-product expert Robert M. McMath suggests
a. implementing a regional rather than a nationwide rollout of the product.
b. building a hierarchical organizational structure so that more people can spot product
problems.
c. a focus on customer benefits and to learn from the past.
d. “doing what it takes” by spending as much as possible on new product marketing
program development and execution because in the end, ‘success comes to those who
can outspend its competition.”
e. releasing several different prototypes at the same time to see which one is most
successful.
Answer:
According to Amber Arnseth, the “Ionator’s” key benefits using Activeion technology
are
a. safety, simplicity, speed, savings, and entertainment.
b. safety, security, sustainability, savings, and knowledge.
c. simplicity, sustainability, speed, savings, and opportunity.
d. simplicity, selectivity, sustainability, savings, and growth.
e. safety, simplicity, sustainability, savings, and fun.
Answer:
The most common way of collecting questionnaire data to generate ideas, which
involves a single researcher asking questions of one respondent is referred to as a(n)
a. panel.
b. focus group.
c. individual interview.
d. face-to-face exchange.
e. interactional interview.
Answer:
All of the following are examples of pricing constraints EXCEPT:
a. cost of producing the product.
b. competitors’ prices.
c. newness of the product (stage in its life cycle).
d. social responsibility.
e. demand for the product class, product, or brand.
Answer:
Which global perspective on world trade views exports and imports as complementary
economic flows?
a. the balance of trade
b. quotas
c. the trade feedback effect
d. the competitive advantage of nations
e. tariffs
Answer:
Ace Hardware is a national ___________ that allows its members, retailers of paint and
hardware products, to concentrate their buying power through wholesalers and more
importantly plan collaborative promotional and pricing activities.
a. service-sponsored retail system
b. administered cooperative system
c. retailer-sponsored cooperative
d. manufacturer-sponsored cooperative
e. wholesaler-sponsored voluntary chain
Answer:
A method of selling in which a salesperson and other company resource people meet
with buyers to discuss problems and opportunities is referred to as __________.
a. conference selling
b. team selling
c. seminar selling
d. outbound telemarketing
e. formula selling
Answer:
One advantage of a market-product grid is that it can be used to
a. make cost-cutting decisions under conditions of uncertainty.
b. screen many new product ideas in order to select the one with the best long-run
market potential.
c. determine which target market segments to select and which product groupings to
offer.
d. select representative samples of consumers for marketing research studies.
e. relate the product life cycle to consumer demand.
Answer:
Figure 1.
Figure 1. above depicts the sales management process that involves three interrelated
functions. “A” refers to __________.
a. salesforce compensation
b. salesforce size determination
c. salesforce communication
d. sales plan formulation
e. salesforce training
Answer:
In its business portfolio analysis, an organization’s SBUs often start as “__________”
and then become “__________.”
a. dogs; question marks
b. question marks; stars
c. stars; question marks
d. stars; dogs
e. question marks; dogs
Answer:
Figure 1.
Which of the following forms of direct marketing has the lowest business usage rate
according to Figure 1. above?
a. direct mail
b. e-mail
c. telemarketing
d. paid search
e. advertising
Answer:
Employing the Internet to make products and services available for consumption or use
by consumers or industrial buyers is referred to as __________.
a. Internet distribution channels
b. virtual marketing channels
c. World Wide Web channels
d. electronic marketing channels
e. extranet marketing channels
Answer:
A __________ product is a style of the times.
a. high-learning
b. low-learning
c. fashion
d. fad
e. substitute
Answer:
Marketing teams must be vigilant in looking for ways to improve the analysis and
results in order to learn lessons that might apply to future marketing research efforts.
Evaluating the effectiveness of a marketing decision involves
a. asking prospective customers if they are likely to buy the product during some future
time period.
b. requesting the firm’s salespeople to estimate sales during a coming period.
c. determining if the marketing research and analysis used to develop the
recommendations was effective.
d. collecting projections from all regional sales managers and making projections based
on a region to region basis.
e. monitoring the marketplace to determine what actions are necessary in the future.
Answer:
There are five dimensions to emotional intelligence: self-motivation; __________; the
ability to manage one’s emotions and impulses; empathy; and social skills.
a. the ability to read body language
b. sense of humor
c. the ability to be positive
d. self-awareness
e. a need to be in control
Answer:
An organization’s special capabilities, including skills, technology, and resources that
distinguish it from other organizations and provide customer value is (are) referred to as
a. a marketing edge.
b. a sustainable advantage.
c. core values.
d. points of difference.
e. competencies.
Answer:
The prescribed penalty for individuals found guilty of the theft of trade secrets is
a. up to 15 years in prison and fines up to $500,000.
b. up to 25 years in prison and fines up to $10 million.
c. life in prison with chance of parole after 25 years.
d. expulsion from the United States and/or revocation of citizenship.
e. 30 years in prison and fines to be determined by the courts.
Answer:
Mizuno designs and sells high quality baseball gloves. Who benefits the LEAST from
the firm’s marketing activities for its gloves?
a. a baseball or softball player who purchases a new Mizuno glove
b. the Sports Authority salesperson who sells a player a Mizuno glove
c. the supplier who provided the leather to Mizuno
d. the shareholder of Mizuno that designs and manufactures the gloves
e. No one should benefit the “least.” All should be benefit from Mizuno’s marketing
efforts, even society at large.
Answer:
Economic espionage refers to
a. the destruction of a competitor’s products or services through physical damage of
property or damage to their reputation.
b. persuading someone to act in one’s favor, typically illegally or dishonestly, by a gift
of money or other inducement.
c. an illicit payment made to someone who has facilitated a transaction or appointment.
d. the clandestine collection of trade secrets from foreign countries.
e. the clandestine collection of trade secrets or proprietary information about a
company’s competitors.
Answer:
ISO 14000 refers to
a. a plan to encourage the purchase of “Made in America” products.
b. a global plan to further green marketing.
c. an initiative for organizations to support the International Special Olympics
Committee and its athletes without endangering its nonprofit status.
d. the name of the agreement that created the North American Free Trade Association
(NAFTA).
e. a set of standards for registration and certification of a manufacturer’s quality
management and assurance system based on an on-site audit of practices and
procedures developed by the International Standards Organization (ISO).
Answer:
The horizontal axis of a demand curve graph represents __________.
a. market growth rate
b. relative market share
c. price per unit
d. potential profit in dollars
e. quantity demanded
Answer:
On eBay.com, the Internet auction website, sellers design the web page on which they
sell their merchandise. One individual, who was selling a Coca-Cola tray from the
1920s, used a background that resembled fluffy clouds in a blue sky. The page
contained six pictures of the tray from different angles and an animated depiction of an
American flag. Many potential buyers abandoned the page before all the pictures
downloaded. The seller must have been unaware of the __________.
a. eight-second rule
b. 80/20 principle
c. stickiness principle
d. hierarchy of needs
e. efficiency rule
Answer:
A target return profit objective implies that a company chooses to
a. set targets whose performance can be measured quickly.
b. give up immediate profit in exchange for achieving a higher market share in hopes of
penetrating competitive markets.
c. set a profit goal that is often determined by its board of directors.
d. reduce investment in any further market or product research.
e. set prices based on return on sales.
Answer:
Which of the following statements about the legal and regulatory aspect of pricing is
most accurate?
a. The Robinson-Patman Act deals with predatory pricing.
b. The Consumer Goods Pricing Act is the only federal legislation that deals directly
with pricing issues.
c. The Sherman Act deals only with vertical price fixing.
d. The Federal Trade Commission Act deals with predatory pricing, deceptive pricing,
and geographical pricing issues.
e. The Consumer Goods Pricing Act and the Robinson-Patman Act deal with price
discrimination.
Answer:
Price lining refers to
a. charging different prices to different buyers for goods of like grade and quality.
b. setting a low initial price on a new product to appeal immediately to the mass market.
c. setting a market price for product or product class based on a subjective feel for the
competitors’ price or market price.
d. setting prices a few dollars or cents under an even number.
e. setting the price of a line of products at a number of different specific price points.
Answer:
Wolfermans.com is a website that sells delectable muffins, rich desserts, smoked
turkeys, and other food attractively packaged and ready for gift-giving. All a visitor has
to do is decide what to buy. Wolfermans.com is an example of a(n) _________ website.
a. intermediary
b. promotional
c. multichannel
d. direct sales
e. transactional
Answer:
Fred White has just accepted a sales position with the ABC Health Maintenance
Organization, a major provider of health care services. He had been selling medical
supplies for some time and found that he understood how customers bought medical
supplies. Which of the following is likely to be a characteristic of the health care
services that Fred offers?
a. Customers are engaged in a low involvement purchase process.
b. The quality of services can be predetermined in a similar manner to tangible
products.
c. The buyer does not participate in the delivery of the service.
d. A consumer may not have the ability to judge the quality of medical care service even
after the service has been provided.
e. The service provider should concentrate on the problem recognition stage of the
purchase decision process in the marketing of health care services.
Answer: