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Colorado Silversmith creates and markets silver and turquoise jewelry, which it sells to
retailers in the western United States. The company's management believes its retail
customers will stock more jewelry if its salespeople use aggressive marketing
techniques, so the company provides strong incentives for salespeople and promotional
allowances to resellers to get distribution for its jewelry. In other words, the company
has a orientation.
a. promotion
b. production
c. sales
d. market
e. customer
Answer:
What should the consultative salesperson do when the prospect says, "Are you telling
me that your packaging will protect my fragile products better than your competitor's
packaging can?"
a. Conduct an unplanned needs assessment.
b. Handle the question as an objection.
c. Immediately leave the prospect's office.
d. Ask for referrals.
e. Modify his or her sales proposal.
Answer:
International Marketing, Inc. is a company located in Brazil that assists businesses
exporting products to Brazil. This company helps with financing, shipping, and any
aspect of marketing a product from another country to Brazil. This company is an
example of a(n):
a. agent broker
b. export agent
c. export broker
d. buyer for export
e. import broker
Answer:
Suppose three months ago the dollar price of a yen was $0.012. Today the dollar price
of one yen is $0.018. If you are in the market for a brand new Honda automobile today,
you will find that:
a. the price of the auto will be much less than it was three months ago
b. you will have trouble purchasing an auto because the dealership cannot keep up with
the high demand
c. it will be impossible to obtain financing for the new auto
d. you will have to pay more for the auto than you would have paid three months ago
e. the trade-in value of your old vehicle will be much less than it would have been three
months ago
Answer:
pay for every activity of the company.
a. Revenues
b. Investments
c. Retained earnings
d. Profits
e. Prices
Answer:
An ad showing a thirsty athlete drinking a cold bottle of Gatorade is an example of an
appeal to self-actualization needs.
a. True
b. False
Answer:
Which of the following is the BEST example of an internal stimulus that would create
need recognition?
a. A friend comments on how shabby your coat looks
b. A radio station runs an ad for a new video game rental store
c. A headache
d. An invitation to a graduation for which you need a gift
e. A billboard promoting a new national Internet service provider
Answer:
One of the most recent developments on the social media scene is that:
a. it will soon be possible to repost another user's message on Twitter.
b. organizations will be able to host virtual networking events and "meet and greets" in
the virtual world.
c. a person can use Google Wallet instead of a credit card at participating locations.
d. marketers will be able to send short, 160-character text messages to your cell phone.
e. YouTube users will not only be able to watch videos, they will also be able to upload
their own videos to the site.
Answer:
_____ occurs when an existing product is targeted toward new market segments. It is
another type of new-product development because the product is new to that segment.
a. Brainstorming
b. Diffusing
c. Repositioning
d. Screening
e. Reciprocity
Answer:
_____ are characteristics of individuals, groups, or organizations that marketers use to
divide a total market into segments.
a. Differentiation guides
b. Segmentation bases
c. Perceptual maps
d. Responsiveness quotients
e. Accessibility quotients
Answer:
Which of the following statements about contests and sweepstakes is true?
a. Contests depend on luck, and participation is free.
b. Contests are generally effective tools for creating long-term relationships with
customers.
c. Sweepstakes are promotions that require participants to exhibit some skill.
d. Sweepstakes usually draw about ten times more participants than contests.
e. Contests and sweepstakes are not useful for creating interest and publicity.
Answer:
What happens when demand is elastic?
a. As price goes up, revenue goes down.
b. As price goes down, revenue goes down.
c. As price goes up, revenue goes up.
d. As price goes up, revenue does not change.
e. As price goes down, revenue does not change.
Answer:
Today's firms must develop specific, measurable, and attainable pricing objectives if
they hope to survive in highly competitive markets.
a. True
b. False
Answer:
One of the favorite foods in Thailand is shark fin soup. A San Francisco"based
organization claimed the soup made by its leading producer contained mercury poison,
yet the leading producer of shark fin soup wanted to continue selling the soup because it
believes it has a responsibility to its investors to be profitable. In terms of the pyramid
of corporate social responsibility, this indicates that the soup manufacturer was
operating at a(n) _____ responsibility level.
a. Legal
b. philanthropic
c. ethical
d. economic
e. cultural
Answer:
_____ occurs when a deli decides to buy its office supplies from a company that
regularly buys sandwiches for its employees.
a. Reciprocity
b. Joint demand
c. Elastic demand
d. Derived demand
e. Bidding conformity
Answer:
Global marketing research is not any more difficult than domestic marketing research.
a. True
b. False
Answer:
TheRitzyCanine
The Ritzy Canine Carriage House looks like several other Manhattan boutique hotels.
The lobby features a crystal chandelier, brocade-patterned wallpaper, gold-framed
mirrors, and antique chairs. Room service and salon service are available as well as
exercise facilities. There is also a masseuse on staff. The Ritzy Canine is a high-end
doggy "hotel" and 'spa" where dogs are the only guests, and they are lavishly cared for.
The $175anight Windsor Suite even has a DVD player. Without such extras, a one-day
visit will cost $40 to $50, depending on the size of the dog.
Refer to The Ritzy Canine. What type of promotion strategy would you expect The
Ritzy Canine to use?
a. Engaging in postpurchase research
b. Forging prepurchase commitments
c. Using motivational behavior
d. Creating a strong organizational image
e. Using outsourced information sources
Answer:
DogSpa
Kelly Tumlin wants to open a dog grooming salon that will offer healthy, natural pet
care and holistic pet products. All of the products sold at the salon will be of the highest
quality and made of all-natural ingredients. Tumlin wants to pamper pets just like a spa
pampers its owners. To determine the feasibility of the grooming salon, Tumlin hired a
marketing researcher who studied all the market information available and determined
that single, white-collar workers between the ages of 30 and 60 were the most likely
people to use the services proposed by Tumlin. The researcher also determined that the
West side of the city offers the best location for the enterprise even though zoning
regulations are much stricter in that area.
Refer to Dog Spa. The group of consumers identified by the researcher as most likely to
avail themselves of the
services offered by Tumlin's grooming salon is called a:
a. target market
b. buying center
c. mass market
d. consumer cluster
e. demography
Answer:
The Used Car Mall lets salespeople charge different customers different prices for
essentially the same automobile depending on how good the customer is at negotiating
price. It uses:
a. two-part pricing.
b. an illegal pricing policy.
c. flexible pricing.
d. bait and switch practices.
e. price maintenance.
Answer:
Fitbit
The pedometer is getting kicked up a notch with the new Fitbit device. The Fitbit is a
$99 motion-detecting sensing device that can measure the user's activity even when
asleep. It digitally records the distance a user walks or runs, right down to the number
of steps, and calories burned. The device wirelessly sends data to its Web site,
fitbit.com, giving users minute-by-minute details. Users can add consumption
information at the Web site, allowing an accurate picture of calorie consumption and
expenditures. Unlike other devices, like the Nike + iPod Sport Kit that monitors
walking and running and sells for $29 or the Zeo Personal Sleep Coach that records
brainwaves while the user is sleeping and sells for $399, the Fitbit combines both
functions. The firsttime Fitbit setup isn"t very easy for users, but once over that hurdle,
it's relative easy to use.
Refer to Fitbit. The company marketing the Fitbit does not currently market a product
like this. Which of the following best represents the category of new product the Fitbit
is for this company?
a. New-to-the-world product
b. New product line
c. Addition to existing product lines
d. Repositioned product
e. Incremental product
Answer:
_____ are consumable, inexpensive, and often standardized items that do not become
part of the final product.
a. Processed materials
b. Supplies
c. Provisions
d. Accessory equipment
e. Replacement parts
Answer:
RockTenn
RockTenn produces packaging products. The company makes cartons that will hold a
dozen Dunkin" Donuts, waffle fries for Chik-fil-A, Gillette razors, Haagen-Daz ice
cream, express mail envelopes for FedEx, and much more. RockTenn business
fluctuates depending on consumer demand. As plastic products become more
expensive, companies turn to cardboard and paper to package their products.
Refer to RockTenn. A sales representative from a paper-producing company calls on
RockTenn routinely every month to review the company's ordering needs. The monthly
sale of paper to RockTenn would constitute a:
a. new buy
b. modified rebuy
c. straight rebuy
d. modified new buy
e. straight new buy
Answer:
Which of the following statements about multinational firms is true?
a. Multinationals typically do not change their methods of reaching their global markets
if they are successful with their initial strategy.
b. Multinationals are defined as companies heavily engaged in exporting and importing.
c. All multinationals must enter the fourth stage of globalization before they are fully
internationalized.
d. Multinationals often develop their global businesses in stages.
e. The five stages of globalization closely mirror the five stages of the product life
cycle.
Answer:
All of the following factors directly influence consumers' level of involvement in the
purchase process EXCEPT:
a. consumer's age
b. previous experience with the product
c. financial risk associated with the product
d. social visibility of the purchased item
e. perceived risk of negative consequences as a result of the purchase
Answer:
Razor scooters gained instant popularity because walkers and runners frequently saw
people on the scooters zipping by them and having fun. This information suggests the
adoption rate of the Razor scooter was most affected by which product characteristic?
a. Complexity
b. Trialability
c. Relative advantage
d. Observability
e. Compatibility
Answer:
A statement of the firm's business based on a careful analysis of benefits sought by
present and potential
customers and an analysis of existing and anticipated environmental conditions is
known as a(n):
a. business audit
b. marketing plan
c. mission statement
d. environmental focus
e. portfolio matrix
Answer:
____ is generally defined as the sale of an exported product at a price lower than that
charged for the same or a like product in the home market of the exporter.
a. Export reengineering
b. Crossdocking
c. Boycotting
d. Dumping
e. Countertrading
Answer:
Technol Medical Products makes specialty face masks to shield healthcare workers
from infection. Because it focuses on this narrow market, it is able to outsell its primary
competitors""3M and Johnson & Johnson. Technol has a(n):
a. aggregated positioning strategy
b. demarketing focus
c. heterogeneous target marketing strategy
d. cost competitive advantage
e. niche competitive advantage
Answer:
Allyson Brown is trying to develop a promotional mix for her firm's new product, a
sophisticated modular sun porch designed for use all year. She reasons that because her
product is complex and carries high financial risks for consumers, the mix should
concentrate on personal selling.
a. True
b. False
Answer:
A(n) ______ is a defined group that managers feel is most likely to buy a firm's
product.
a. target market
b. buying center
c. aggregated unit
d. consumer cluster
e. demographic sample
Answer:
SpecialtyCakes
Imagine that you"re planning an aftersymphony fundraising party, and you need a
lifesize grand piano cake. Or, you are a developer proposing a new shopping center to a
group of investors, and you want to serve a cake shaped like an architectural rendition
of the center. Is this impossible? No, you just need to contact Cecilia Villaveces Cakes.
She actually built a life-size grand piano for a gala in Macon, Georgia. You can expect
to pay anywhere from $75 to $10,000 for one of Cecilia's artistic creations, depending
on complexity of design and size. She uses only the best ingredients, and no two cakes
are ever quite alike.
Refer to Specialty Cakes. Many party planners in the Southeast will only use Cecilia
Villaveces Cakes at their parties""no matter what the price is. They know that Cecilia's
cakes can make a party a success. Moreover, the cakes are what people remember most
about the parties. From this description, you should assume Cecilia Villaveces Cakes
have a(n):
a. elastic demand.
b. unitary elasticity.
c. inelastic supply.
d. inelastic demand.
e. elastic supply.
Answer:
____ lets the analyst look at the responses to one question in relation to the responses to
one or more other questions.
a. One-way regression analysis
b. Two-way regression analysis
c. The one-way frequency count
d. Cross-tabulation
e. Content analysis
Answer:
