When past experience is insufficient, the risk of making a wrong decision is high, and
the cost of gathering information is low, a consumer is more likely to use an
__________ for information.
a. internal search
b. informal search
c. expert directed search
d. external search
e. experiential search
Answer:
A statement that identifies: (1) a well-defined target market; (2) specific customers’
needs, wants, and preferences; and (3) what the product will be and do to satisfy
consumers is referred to as a new product’s
a. protocol.
b. proposition.
c. modus operandi.
d. formula.
e. methodology.
Answer:
Using __________, many retailers deliberately sell products below their normal prices
(and sometimes below cost) to attract attention and additional store traffic.
a. customary pricing
b. below-market pricing
c. prestige pricing
d. penetration pricing
e. loss-leader pricing
Answer:
Demand-oriented approaches weigh factors that underlie expected __________ more
heavily than such factors as cost, profit, and competition when selecting a price level.
a. total revenue
b. stakeholder concerns
c. prevailing prices
d. product substitutes
e. customer tastes
Answer:
Married couples with children at home who use the Internet like a consumer magazine
to gather information and compare products and prices are referred to as “__________.”
a. click-and-mortar
b. brand loyalists
c. hunter-gatherers
d. hooked, online, and single
e. time-sensitive materialists
Answer:
Target return-on-investment (ROI) is frequently used by
a. contractors.
b. public utilities.
c. business-to-business markets.
d. supermarkets.
e. small privately owned firms.
Answer:
Figure 1.
Figure 1. above represents the seven stages of the new-product development process.
Stage 7 is the __________ stage.
a. business analysis
b. screening and evaluation
c. market testing
d. commercialization
e. development
Answer:
A buy class situation affects buying center tendencies in different ways. If there are two
or three people involved, only present suppliers are considered, and the time required
for a decision is moderate, the buy class situation is a
a. new buy.
b. straight rebuy.
c. modified rebuy.
d. conditional rebuy.
e. standard reorder.
Answer:
A(n) __________ is a stimulus or symbol perceived by consumers.
a. drive
b. cue
c. attitude
d. response
e. reinforcement
Answer:
A distributor refers to
a. intermediaries who perform a variety of distribution functions, including selling,
maintaining inventories, extending credit, and so on.
b. an intermediary who sells only to manufacturers.
c. an intermediary who takes possession of a product, alters it in some way, and then
sells it to the ultimate consumer.
d. an intermediary who sells to other intermediaries, usually to retailers.
e. an intermediary who sells only to other intermediaries.
Answer:
A(n) __________ scale is a five-point scale in which the opposite ends have one- or
two-word adjectives that have opposite meanings.
a. dichotomous
b. open-ended
c. Likert
d. attitudinal
e. semantic differential
Answer:
Which of the following is an example of possession utility?
a. an iPhone with a large selection of new “apps”
b. the local dairy that offers to deliver bottles of milk to a customer’s doorstep
c. disposable diapers that come equipped with resealable tabs
d. a gourmet food store that carries a line of ready-made salads
e. a mobile phone company that offers six-month financing, same as cash
Answer:
If you wanted to generate brand buzz for an upcoming product using Twitter, what is
the best way to implement Twitter?
a. Monitor other Twitter accounts for negative mentions of your brand.
b. Defend your brand aggressively on your Twitter account for happier customers.
c. Create an account and generate followers through posting photos of the new product.
d. Create an account and tweet several times a day for a few weeks before releasing the
product.
e. Post on current events, such as an upcoming political election, to be interesting and
unexpected.
Answer:
Figure 1.
Channel “B” in Figure 1. above represents which type of promotional channel strategy?
a. direct
b. indirect
c. push
d. pull
e. vertical
Answer:
The marketing concept era occurred from __________.
a. the early years of the U.S. to the 1920s
b. the 1920s to the 1960s
c. the late 1950s to the late 1990s
d. the mid-1960s to the present
e. the mid-1980s to the present
Answer:
Contract assembly refers to
a. offering the right to a trademark, patent, trade secret, or similarly valued items of
intellectual property in return for a royalty or fee.
b. contracting with a foreign firm to assemble parts and components that have been
shipped to that country.
c. when a foreign company and a local firm invest together to create a local business.
d. having a company handle its own exports directly, without intermediaries.
e. contracting with a foreign firm to manufacture products according to stated
specifications.
Answer:
Pharmaceutical companies sell some of their products to hospitals and clinics directly.
They also market other products to large retail chains like Walgreens that distribute
them to their stores across the nation. In addition, they sell products to drug wholesalers
that sell to the remaining independent drugstores in the U.S. What method of
distribution best describes the method used by pharmaceutical companies in this
example?
a. dual distribution
b. vertical distribution
c. horizontal distribution
d. direct distribution
e. exclusive distribution
Answer:
Figure 1.: Question 5
Consider Figure 1.: Question 5 above, which is part of a Wendy’s survey that assessed
fast-food restaurant preferences among present and prospective consumers. Question 5
illustrates which type of question format?
a. dichotomous
b. open-ended
c. Likert scale
d. semantic differential scale
e. attitudinal
Answer:
According to economists, protectionism
a. protects a nation’s political security.
b. encourages economic reliance on foreign countries.
c. inhibits the development of domestic industries.
d. creates opportunities for the outsourcing of domestic jobs.
e. creates a more favorable environment for a global economy.
Answer:
Which of the following statements about comparative advertising is MOST accurate?
a. Comparative advertisements now constitute over 90% of all television ads.
b. Comparative advertisements attract more consumer attention for the advertiser’s
brand.
c. Comparative advertisements can decrease the perceived quality of the advertiser’s
brand.
d. Comparative advertisements have been banned by the Federal Trade Commission.
e. Comparative advertisements can, and often do, cause more harm than good.
Answer:
Concert Staging Company provides the stage, the roof system, and the lighting and
sound for outdoor concerts and theaters. It is typically hired by the organization
sponsoring the event. When the economy slows down, consumers are more likely to
save their money for a rainy day rather than buy a concert or theater ticket. The number
of concert and theater events determines how many times the company gets to provide
its services. Demand for the services provided by Concert Staging Company is a result
of __________ demand.
a. derived
b. unitized
c. industrial
d. applied
e. reseller
Answer:
Allegra is an antihistamine. To create brand awareness, the company is offering people
who request information about the product a seat cushion to use at their favorite
sporting event. Its television ad shows a woman half-heartedly watching a sporting
event. The voiceover asks if she is bored or congested. In the next scene, the person is
having a great time and is decongested after taking Allegra. This use of the same
promotional theme throughout a company’s marketing campaign is an example of how
marketers use __________.
a. the retailing mix
b. integrated marketing communications (IMC)
c. the branding mix
d. coordinated channels of communication
e. marketing by objectives (MBO)
Answer:
The two main classifications of business products are
a. durable and nondurable.
b. components and support.
c. tangible and intangible.
d. consumer and industrial.
e. derived and support.
Answer:
The primary purpose of a pioneering product advertisement is to
a. tell people what the company is, what it can do, and where it is located.
b. tell people what a product is, what it can do, and where it can be found.
c. show one brand’s strengths relative to those of competitors.
d. reinforce previous knowledge of a product.
e. build goodwill or an image for an organization rather than promote a specific product
or service.
Answer:
The three major types of vertical marketing systems are administered, corporate, and
__________.
a. integrated
b. cooperative
c. delegated
d. manufacturer-dominated
e. contractual
Answer:
Figure 1.a
Figure 1.a above shows the two main types of data. If “B” represents the facts and
figures that have already been recorded before the project at hand, which type of data is
“B?”
a. primary data
b. secondary data
c. scrubbed data
d. sensitivity data
e. nonprobability data
Answer:
At the functional level, the marketing department
a. solicits talent from all levels of the organization for strategic corporate planning
sessions.
b. promotes its goals to the organization’s stakeholders.
c. looks outward, keeping the organization focused on creating value both for it and its
customers.
d. develops the corporate culture.
e. defines the overall strategic direction of the organization.
Answer:
Another name for multiproduct branding is __________.
a. family branding
b. mixed branding
c. uniform branding
d. co-branding
e. agent licensing
Answer:
All of the following statements about YouTube are true EXCEPT:
a. registered users can upload an unlimited number of videos.
b. every minute, 48 hours of video is uploaded to the site.
c. seventy percent of the video traffic comes from outside the U.S.
d. unregistered users can watch videos but cannot upload them.
e. most of the content is uploaded by companies like CBS, 3M, and Home Depot.
Answer:
The National Center for Public Policy and Higher Education reports that since 1980,
college tuition and fees have increased by 440 percent whereas family incomes have
risen less than 150 percent. This is an example of a(n) __________ economy.
a. deflationary
b. recessionary
c. disinflationary
d. inflationary
e. depressive
Answer:
What is category management and when is it used?
Answer:
Body Bazaar: The Market for Human Tissue in the Biotechnology Age is a book by Lori
Andrews and Dorothy Nelkin. According to the book, “Body parts are bought and sold
for medical research, diagnostics, and therapies. They are marketed to museums and
personal collectors. And pieces of people are increasingly being used as raw materials
for products-from placenta-enriched shampoos to experimental DNA-run computers.
Blood has become one of the most valuable commodities on Earth. While petroleum
sells for $100 a barrel, an equivalent quantity of blood products is worth $67,000.” Use
this quote to explain why ethics is such a difficult concept to understand.
Answer:
What is the North American Industry Classification System (NAICS)?
Answer:
Why would an organization produce multiple products or services and then attempt to
sell them to two or more market segments?
Answer:
What are the two general methods for quoting prices related to transportation costs?
Explain how each is used.
Answer:
Which generational cohort is part of the “graying of America”? Describe the interests
and lifestyles of this cohort and why it is important to marketers.
Answer:
What are discounts? List the four kinds that are especially important in marketing
pricing strategy.
Answer:
What are the four shapes that a product life cycle can take? For each type, describe (and
as an option, draw) its characteristics.
Answer:
Explain why measures of success are important to effective decision makers and give
an example of one.
Answer:
Add your own personal experience and creativity to what you have just learned in
Chapter 1. Formulate a plan to assess the needs of either (1) students who have too
many textbooks to carry to and from class or (2) executives who are too busy to keep up
with the latest information in their field.
Answer:
List and explain the key elements of future services.
Answer:
What is a sales response function?
Answer:
Explain the following statement: “Packaging provides communication, functional, and
perceptual benefits for manufacturers, retailers, and consumers.”
Answer:
List the five environmental forces that have an impact on an organization as well as its
suppliers and customers. Provide examples of factors that might be examined as part of
environmental scanning for each of those forces.
Answer:
What is the role of a brand manager in advertising on Facebook?
Answer:
What are the segmentation bases for U.S. organizational (business) markets?
Answer:
Give an example of yield management pricing and explain why it is used.
Answer:
What are the keys to effective need-satisfaction presentations?
Answer:
Describe Porter’s framework and the four resulting generic business strategies.
Answer: