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A strip mall refers to a
A. suburban mall containing up to 100 stores that draws customer from a 5- to 10-mile
radius.
B. cluster of stores in a downtown area.
C. retail location that typically has one primary store (usually a department store
branch) with 20 to 40 smaller outlets serving a population of consumers who are within
a 10- to 20-minute drive.
D. cluster of neighborhood stores, often unplanned, designed to serve people within a
five- to ten-minute drive.
E. collection of category killers usually located outside a major amusement park or
attraction.
Answer:
__________ is often disguised as gifts, consultant fees, and favors, but is used to gain
an unethical advantage over competitors.
A. Economic espionage
B. Utilitarianism
C. Business intelligence
D. Oligopoly
E. Bribery
Answer:
The __________ can be used to inform prospective buyers about the benefits of the
product.
A. promotional mix
B. promotion channel
C. communication channel
D. marketing mix
E. media mix
Answer:
Because services tend to be a(n) __________ rather than an object, they are much more
difficult for consumers to evaluate.
A. opportunity
B. good
C. risk
D. decision
E. performance
Answer:
If taxes rise at a faster rate than incomes, consumers will
A. have less disposable income and try to economize.
B. feel more confident in the government and therefore spend more money.
C. use cash for purchases such as a vacation.
D. recognize that it is the perfect opportunity to buy a car or other expensive products
on credit.
E. react by voting for all incumbent members of Congress.
Answer:
The money that remains after paying for taxes and necessities is referred to as
__________.
A. net income
B. discretionary income
C. disposable income
D. household income
E. gross income
Answer:
Figure 12-3
Figure 12-3 above depicts four common marketing channels for consumer products and
services that differ by the kind and number of intermediaries. Channel B would be an
appropriate marketing channel for which of the following?
A. State Farm insurance services
B. Schwan direct-to-home food products
C. Toyota automobiles
D. John Deere construction machinery
E. Hershey's candy
Answer:
Online buyers of consumer electronics can shop individual manufacturers, such as
QVC.com, a general online merchant that offers more than 100,000 products. This
describes one example of why consumers shop and buy online, which is
A. convenience.
B. choice.
C. cost.
D. control.
E. customization.
Answer:
Which of the following statements about marketing is most accurate?
A. Unless you take a marketing class, you will never truly know anything about
marketing.
B. Marketing is nothing more than common sense.
C. Marketing requires an innate sense of creativity; you either have it or you don't.
D. You can call yourself a marketing expert only if you have sold something.
E. You are already a marketing expert because as a consumer, you have already been
involved in marketing decisions.
Answer:
The administrative, marketing, and manufacturing operations that many international
firms, multinational firms, and transnational firms have around the world are often
called
A. divisions.
B. outlets.
C. departments.
D. markets.
E. holding companies.
Answer:
The NAICS is consistent with the International Standard Industrial Classification of All
Economic Activities, which is published by the __________ to facilitate measurement
of global economic activity.
A. United Nations (UN)
B. European Union (EU)
C. International Standards Organization (ISO)
D. North American Free Trade Agreement (NAFTA)
E. North American Product Classification System (NAPCS)
Answer:
A trade promotion where the manufacturer gives a retailer a case allowance price for
products in their warehouse, which prevents shelf stock from running down during the
promotional period is referred to as a __________ stock protection program.
A. level
B. floor
C. merchandise
D. ground
E. hedge
Answer:
Which of these statements about consumer demand as a pricing constraint is most
accurate?
A. The number of potential buyers for the product class has little effect on the price a
seller can charge.
B. The number of potential buyers for the product affects the price a seller can charge,
but only if the product is a luxury item.
C. The number of potential buyers for the product affects the price a seller can charge,
but only if the product is a necessity item.
D. The number of potential buyers for the brand affects the price a seller can charge in
the growth stage of a product life cycle, but not in the introductory stage.
E. The number of potential buyers generally affects the price a seller can charge.
Answer:
At which stage in the product life cycle are discounts and coupons offered to both
consumers and intermediaries to maintain loyal buyers?
A. introduction
B. growth
C. incubation
D. maturity
E. decline
Answer:
Companies can employ four general branding strategies, which include: (1)
multiproduct branding; (2) __________; (3) private branding; and (4) mixed branding.
A. multibranding
B. retailer branding
C. intermediary branding
D. brand licensing
E. co-branding
Answer:
About __________ of Internet users ages 15 and older shop online in the United States.
A. 19%
B. 29%
C. 48%
D. 67%
E. 90%
Answer:
Figure 2-5
Taco Bell recently introduced Doritos Locos Tacos in the U.S., with shells made out of
Nacho Cheese Doritos. The chain sold 100 million tacos in the first 10 weeks alone, its
most popular product launch of all time. Considering Figure 2-5 above, this is an
example of a __________ strategy that would be found in quadrant __________.
A. market penetration; A
B. product development; B
C. market development; C
D. diversification; D
E. product-market enhancement; D
Answer:
The practice where a translated word or phrase is retranslated into the original language
by a different interpreter to catch errors is referred to as
A. locution.
B. heuristics.
C. transliteration.
D. back translation.
E. cross-cultural paraphrasing.
Answer:
A 3M researcher worked with university students to develop the Post-it→ Flag
Highlighter. His team evaluated the technical feasibility of the proposed design and
determined whether the idea met the firm's new-product objectives. At which stage of
the new-product process was this product?
A. idea generation
B. screening and evaluation
C. business analysis
D. new-product strategy development
E. concept testing
Answer:
All of the following are criterion used for selecting target market segments EXCEPT:
A. compatibility with the organization's objectives and resources.
B. market size.
C. simplicity and cost of assigning potential buyers to segments.
D. competitive position.
E. cost of reaching the segment.
Answer:
In terms of website design and the online customer experience, community refers to
A. an information system where anyone can post content depending upon his or her
level of self-disclosure.
B. websites that allow people to congregate in online chat rooms to exchange views on
topics of common interest.
C. a social network of individuals who interact through specific media, potentially
crossing geographical and political boundaries, in order to pursue mutual interests or
goals.
D. user-to-user communications hosted by a company to enhance customer experience
and build favorable buyer-seller relationships.
E. a customer's network of family, friends, acquaintances, and co-workers with whom
he or she communicates on regular basis.
Answer:
At which stage of the organizational buying decision process would design and
production engineers draft specifications?
A. problem recognition
B. information search
C. alternative evaluation
D. purchase decision
E. value analysis
Answer:
The first major federal legislation passed to forbid contracts, combinations, or
conspiracies in restraint of trade in the United States was the
A. Lanham Act.
B. Sherman Antitrust Act.
C. Federal Trade Commission Act.
D. Robinson-Patman Act.
E. Clayton Act.
Answer:
Wholesalers who own the merchandise they sell but do not physically handle, stock, or
deliver it are referred to as __________.
A. cash and carry wholesalers
B. rack jobbers
C. truck jobbers
D. manufacturer's representatives
E. drop shippers
Answer:
Items consumed in one or a few uses, such as food and fuel, are referred to as
__________.
A. services
B. perishable goods
C. durable goods
D. nondurable goods
E. disposable goods
Answer:
Cooperative advertising refers to
A. advertising programs by which a manufacturer pays a percentage of the retailer's
local advertising expense for advertising the manufacturer's products.
B. advertising programs by which a manufacturer pays for national ad distribution and
the retailer pays for local advertising expenses.
C. advertising that is paid collectively for all stores located within a specified
geographic area, such as a five-mile radius around a particular shopping center or strip
mall.
D. advertising paid for by multiple independent firms to promote a product class rather
than an individual product or firm.
E. advertising paid for by several unrelated firms to promote a worthy cause such as
cancer research.
Answer:
In the seven Ps of services, the term "process" refers to
A. the patented steps of service encounters that distinguish one service provider from
another.
B. licensed procedures that have met ISO 9000 guidelines for safety.
C. the procedures, mechanisms, and flow of activities by which the service is created
and delivered.
D. a protocol for behaviors and activities for people-based rather than technology-based
services.
E. the decisions consumers' make during the purchase of services.
Answer:
A middleman refers to
A. a person or firm whose sole responsibility is bringing a buyer to the last link in the
distribution chain.
B. a person or firm whose sole responsibility is to find distributors for a manufacturer's
products.
C. any intermediary between a manufacturer and end-user markets.
D. a person or firm that takes possession of a product and in some way alters it before
passing it on to ultimate consumers.
E. an intermediary who sells to ultimate consumers.
Answer:
When a company retains a product but reduces marketing costs, it is referred to as
__________.
A. skimming
B. harvesting
C. milking
D. deletion
E. divesting
Answer:
Discretionary income refers to
A. the money deducted from a person's paycheck to pay for federal, state, and local
taxes.
B. the total amount of money made by a single individual during his or her lifetime.
C. the money a consumer has left after paying taxes to use for necessities such as food,
shelter, clothing, and transportation.
D. the money that is spent for necessities or charitable causes that is exempt from
taxation.
E. the money that remains after paying for taxes and necessities.
Answer:
Figure 6-4
Global companies have five strategies for matching products and their promotion
efforts to global markets. According to Figure 6-4 above, E refers to which type of
strategy?
A. product extension strategy
B. product adaptation strategy
C. dual adaptation strategy
D. product invention strategy
E. communication adaptation strategy
Answer:
Many services depend on __________ for the creation and delivery of the customer
service experience.
A. people
B. government
C. process
D. productivity
E. physical environment
Answer:
The marketing manager from a heavy-equipment manufacturer in Dallas, Texas was
attending an international trade show in Japan. There were many prospective customers
from different countries who seemed interested in the firm's product. However, they had
difficulty following the manager's explanations of product features due to his heavy
Texas drawl. In this case, the accent would be considered __________.
A. an encoding error
B. a decoding error
C. culture shock
D. noise
E. distortion
Answer:
