In 1994, the North American Free Trade Agreement (NAFTA) established a free trade
zone among the United States and Costa Rica, the Dominican Republic, El Salvador,
Guatemala, Honduras, and Nicaragua.
Answer:
Most shopping centers are ________.
A) strip malls
B) regional shopping malls
C) community shopping centers
D) lifestyle centers
E) power centers
Answer:
________ consists of arranging for a market offering to occupy a clear, distinctive, and
desirable place relative to competing products in the minds of target consumers.
A) Mass customization
B) Positioning
C) Segmentation
D) Differentiation
E) Targeting
Answer:
Market leaders can expand the market by ________ and more usage of the product.
A) identifying competitors
B) initiating monopolistic practices
C) developing new users
D) ensuring users adhere to higher standards
E) initiating new rules for product users
Answer:
Cape Sky Inc., an international insurance and financial services company, is the primary
sponsor of the annual New York City Marathon, which is attended by over one million
fans and watched by approximately 300 million viewers worldwide. The Cape Sky logo
and name are displayed throughout the race course. Cape Sky most likely sponsors this
event in order to appeal to which of the following types of publics?
A) financial publics
B) citizen-action publics
C) government publics
D) general publics
E) internal publics
Answer:
During portfolio analysis, a company ________ after identifying the key businesses that
make up the company.
A) formulates a short-term marketing plan
B) assesses the attractiveness of its various SBUs
C) assesses its strengths and weaknesses
D) performs a SWOT analysis
E) assesses the effectiveness of its various channel intermediaries
Answer:
________ are two or more outlets that are commonly owned and controlled.
A) Corporate chains
B) Convenience stores
C) Off-price retailers
D) Independent off-price retailers
E) Power centers
Answer:
When entering a foreign market, companies typically start with ________, working
through independent intermediaries to sell products produced in the home country.
A) direct exporting
B) embargo
C) product adaptation
D) indirect exporting
E) licensing
Answer:
________ are less frequently purchased consumer products and services that customers
compare carefully on suitability, quality, price, and style.
A) Shopping products
B) Convenience products
C) Unsought products
D) Capital items
E) Supplies and repair services
Answer:
Which type of store is much larger than regular supermarkets and offers a large
assortment of routinely purchased food products, nonfood items, and services?
A) off-price retailer
B) specialty store
C) factory outlet
D) superstore
E) convenience store
Answer:
According to the model of buyer behavior, which of the following is one of the two
primary parts of a “buyer’s black box”?
A) technological stimuli
B) buyer’s decision process
C) buyer’s spending habits
D) social stimuli
E) promotion stimuli
Answer:
In response to charges of ________, marketers point out that because of ads, many
television and radio sites are free to users and also keep down the cost of magazines and
newspapers.
A) deceptive pricing
B) creating false wants
C) creating materialism
D) high promotion costs
E) cultural pollution
Answer:
Which of the following would most likely lead to a company initiating a price increase?
A) weakened economy
B) possession of outdated merchandise
C) excess capacity
D) over-demand
E) possession of defective merchandise
Answer:
The high failure rate of new products shows that companies are not able to ________.
A) control demand
B) advertise enough
C) understand international laws
D) find outlets
E) identify consumer needs
Answer:
When customers have low involvement in a purchase but perceive significant brand
differences, they will most likely engage in ________.
A) complex buying behavior
B) dissonance-reducing buying behavior
C) habitual buying behavior
D) variety-seeking buying behavior
E) consumer ethnocentrism
Answer:
The first step of the business buying process is ________.
A) general needs description
B) product specification
C) order-routine specification
D) problem recognition
E) performance review
Answer:
The purpose of a training program for salespeople is to teach them about all of the
following EXCEPT ________.
A) customers’ buying habits
B) customers’ buying motives
C) competitor strategies
D) industry history
E) company goals
Answer:
Which of the following statements about outdoor media is true?
A) It has no creative limitations.
B) It is characterized by higher costs per exposure.
C) It has good positional selectivity.
D) It has very limited flexibility.
E) It has high audience selectivity.
Answer:
Mansfield Pharmaceuticals markets Zipro, an antibiotic. The firm has fixed costs of
$1,000,000 and variable costs of $2 per bottle of 50 tablets priced at $10 per bottle.
What is the break-even volume?
A) 25,000
B) 55,000
C) 100,000
D) 115,000
E) 125,000
Answer:
________ allows consumers to gain additional information about a product through the
use of a remote control.
A) Telemarketing
B) Kiosk marketing
C) Podcasting
D) Video conferencing
E) Interactive television
Answer:
Which of the following is NOT part of Maslow’s hierarchy of needs?
A) physiological needs
B) safety needs
C) spiritual needs
D) esteem needs
E) social needs
Answer:
Which of the following advertising slogans most likely represents a two-sided
argument?
A) Breakfast of champions
B) Good to the last drop
C) A diamond is forever
D) The ultimate driving machine
E) The next big thing is already here
Answer:
Often, international researchers must collect their own primary data because ________.
A) reliable secondary data is both scarce and difficult to find
B) information from commercial online databases is unreliable
C) it is cheaper to obtain primary data than secondary data
D) it is easier to obtain primary data than secondary data
E) it is illegal in some countries to track customer data
Answer:
In ________ research, the objective is to gather preliminary information that will help
define the problem and suggest hypotheses.
A) exploratory
B) statistical
C) causal
D) analytic
E) descriptive
Answer:
An ad for a new convection oven shows a busy professional woman using the
convection oven to cook dinner for her family. Which of the following message
execution styles is illustrated in this example?
A) testimonial evidence
B) slice of life
C) fantasy
D) scientific evidence
E) mood or image
Answer:
Which of the following is included in the third part of the marketing strategy statement?
A) the planned value proposition
B) distribution strategy
C) the product’s planned price
D) marketing budget
E) the planned long-run sales
Answer:
Harley-Davidson promotes its motorcycles with images of independence, freedom, and
power. Harley-Davidson has created a ________.
A) motive
B) life-cycle stage
C) self-concept
D) brand personality
E) self-actualization need
Answer:
Yummy Peanut Butter created a new coconut-flavored peanut butter that it tested in a
small number of representative cities. The company plans to use the results to forecast
national sales and profits. Which of the following did the firm use?
A) controlled test markets
B) simulated test markets
C) standard test markets
D) ambush marketing
E) affinity marketing
Answer:
Immediately after deciding which markets to enter, the company should determine
________.
A) the most suitable global communication program
B) how to price its products in different markets
C) the global marketing organization
D) the global marketing program
E) how to enter the market
Answer:
The ________ concept is aligned with the philosophy of continuous product
improvement and the belief that customers will choose products that offer the most in
quality, performance, and innovative features.
A) product
B) production
C) societal marketing
D) marketing
E) selling
Answer: