CE 562 Test 2

Type

Quiz

Book Title

A Preface to Marketing Management 14th Edition

ISBN 13

978-0077861063

October 29, 2015

Pluto Inc., a leather goods manufacturer, produces and sells a wide range of leather

bags, wallets, purses, and belts. It recently opened an outlet in Mexico. However, since

Mexico's per capita income is approximately one-third that of the U.S., Lolita's sales

have dipped. Moreover, the extent of available financing in the country is limited. With

regard to global marketing research, the dip in Lolita's sales can be attributed to which

of the following organizational issues?

A. Political conditions

B. Culture

C. Willingness to buy

D. Ability to buy

Answer:

A producer's statement of what it will do to compensate the buyer if the product is

defective or does not work properly is known as a(n) _____.

A. surety

B. warranty

C. insurance

D. liability

Answer:

According to Abraham Maslow, the satisfaction of the _____ needs is only possible

after the satisfaction of all the needs lower in the hierarchy.

A. physiological

B. self-actualization

C. belongingness and love

D. esteem

Answer:

Which of the following products can be classified as an organizational good?

A. An electric generator purchased by an individual to use in the event of a power

failure

B. Large amounts of fabric purchased by an individual to make upholstery for his or her

house

C. Loaves of bread purchased by a store owner for the purpose of reselling them at his

store

D. Timber purchased by the owner of a furniture store to make chairs

Answer:

Product knowledge influences:

A. how easily the product is available to a consumer.

B. how much time marketers spend on creating a marketing campaign.

C. how quickly a consumer goes through the decision-making process.

D. the relationship between cultural values and consumer decision-making process.

Answer:

Which of the following products is most likely to be distributed through direct

channels?

A. Smartphones

B. Staplers

C. Hair dryers

D. Computer systems

Answer:

Which of the following is true of agricultural goods and raw materials?

A. These products have a high value per unit.

B. These products are fairly homogeneous.

C. These products are always sold in single units or in small volumes.

D. These products cannot be used to produce other goods.

Answer:

In a bid to gain a marketing advantage over its competitors, Highflier, an airline firm,

enters into a long-term, formal relationship with CafÃ©Bean, a coffee outlet. The two

companies make significant investments in each other in order to jointly pursue mutual

goals to improve the profitability of each other. This a typical example of a _____.

A. transactional relationship

B. relational subsidy

C. strategic alliance

D. technical relationship

Answer:

Which of the following is an accurate difference between straight rebuys and modified

rebuys?

A. Straight rebuys are considered when some aspects of a buying situation are

unfamiliar, while modified rebuys are considered when organizations are experienced at

buying a product.

B. Straight rebuys involve routinely reordering products from same suppliers, while

modified rebuys involve considering a limited number of alternatives before selection.

C. Straight rebuys are followed by marketers who seek to win new organizational

customers, while modified rebuys are followed by marketers who seek just-in-time

inventory.

D. Straight rebuys are used when a routine purchase changes in some way, while

modified rebuys are used by organizations that do not have a reserve inventory.

Answer:

While setting up an initial price structure for a product, a marketer should primarily:

A. discount environmental and external factors.

B. consider the recommended price to various channel members.

C. overlook number of products sold by competitors.

D. de-emphasize profit potential.

Answer:

Signs and Sales Inc. makes neon signs. Its CEO recently attended a trade show where

he examined the new Neon Pilot 5.0, a machine that allows you to create

three-dimensional computer-generated designs, feed the designs into a machine with

neon tubing, and have the neon extruded in almost any shape imaginable. He believes

this machine will increase his company's output by at least 30 percent and reduce its

wastage by at least 50 percent. The CEO then consults a large number of decision

makers within the company to arrive at a decision. If the company was formerly doing

most of this work by hand, then the purchase of a Neon Pilot 5.0 would be an example

of a _____.

A. modified rebuy

B. routine purchase

C. straight rebuy

D. new task purchase

Answer:

Which of the following best describes category killers?

A. They are small retailers who handle deep assortments in a limited number of product

categories.

B. They are single-line stores that emphasize a single product and effectively market it.

C. They are off-price retailers who compete more on the basis of offering large

assortments at lower prices.

D. They are large, low-priced limited-line retail chains that attempt to dominate a

particular product category.

Answer:

Robert is in the printing business and needs to buy a ream of printer paper for his old

printer in order to meet extensive demand this season. For Robert, the purchase of

printer paper requires _____ decision making.

A. selective

B. limited

C. extensive

D. routine

Answer:

Better Offices Inc. manufactures office supplies and equipment for a large client base,

including the city's largest retailer, Office Space. A salesperson from Better Offices met

with the procurement manager of Office Space to sell copiers. Two days later, another

salesperson from Better Offices called on Office Space to sell copier paper. Considering

this, Better Offices most likely uses a _____ structure to organize its sales force.

A. product

B. geographical

C. customer

D. major account

Answer:

Training that teaches employees to have good attitudes focuses on:

A. specific social techniques, such as eye contact, smiling, and tone of voice.

B. incentives necessary to give the employees the capability and willingness to provide

quality service.

C. demonstrating the behavior that managers intend to reward employees for

performing.

D. clearly defining the skills the service person must bring to the job.

Answer:

Which of the following is true of a global virtual team?

A. It is a cross-functional team that operates across time and geographic distance.

B. Its members primarily communicate with each other on a one-to-one basis.

C. It is never faced with the challenge of building and maintaining trust as it works

toward accomplishing its objectives.

D. It is less likely to transcend organizational boundaries and cultures.

Answer:

Which of the following factors of Michael Porter's diamond model refers to the

existence or absence in the country of supplier industries that are also internationally

competitive?

A. Demand conditions

B. Company strategy, structure and rivalry

C. Related and supporting industries

D. Factor conditions

Answer:

Deceptive pricing practices are outlawed under the _____ Act.

A. Federal Trade Commission

B. Sherman-Antitrust

C. Taft-Hartley

D. Fair Pricing

Answer:

The width of a product mix refers to the:

A. number of product lines handled by the organization.

B. total number of items or products in the company's product mix.

C. average number of products in each line.

D. extent to which one product line differs from another.

Answer:

Sole sourcing allows organizational buyers to:

A. ensure that competing suppliers are allowed to put forth their price quotations for the

goods obtained through sole sourcing.

B. work more closely with suppliers to develop superior products that meet their needs

and those of their customers.

C. establish price as the key criterion for selecting and retaining a supplier for the

products concerned.

D. convert the skimming policy to a penetration policy based on the current stage of the

product life cycle.

Answer:

Which of the following sales promotion activities is aimed at middlemen?

A. Bonuses

B. Coupons

C. Training materials

D. Price deals

Answer: