A buying center refers to
A. an online trading community that brings together buyers and supplier organizations
to make possible the real time exchange of information, money, products, and services.
B. the department within a firm responsible for the logistics of placing, tracking, and
delivering orders to other departments within the firm.
C. the department within a firm responsible for the logistics of placing, tracking, and
delivering orders to ultimate consumers.
D. the group of people within an organization who participate in the buying process and
share common goals, risks, and knowledge important to a purchase decision.
E. the department within a firm that allows purchases to be made from a centralized
location from multiple vendors at the same time.
Answer:
Intangible activities or benefits that an organization provides to satisfy consumers’
needs in exchange for money or something else of value are referred to as __________.
A. services
B. goods
C. products
D. marketing mix
E. ideas
Answer:
The objective attributes of the supplier’s products and services and the capabilities of
the supplier itself are collectively referred to as
A. the supplier consideration set.
B. derived demand factors.
C. evaluative criteria.
D. performance metrics.
E. organizational buying criteria.
Answer:
An intermediary who sells to other intermediaries, usually to retailers in consumer
markets, is referred to as a(n) __________.
A. broker
B. agent
C. retailer
D. distributor
E. wholesaler
Answer:
Which of the following statements regarding environmental scanning is the most
accurate?
A. Environmental scanning changes the marketing environment.
B. Environmental scanning identifies and interprets potential trends.
C. Environmental scanning should be done at least every five years.
D. Environmental scanning focuses primarily on ecological factors.
E. There is too much information generated from environmental scanning to make it
viable for small firms.
Answer:
Managers often use two special indexes to help identify strong and weak market
segments in order to provide direction for marketing efforts. One of these indexes is the
BDI or __________.
A. business development index
B. brand development index
C. business-portfolio development index
D. buyers development index
E. benchmark development index
Answer:
Most consumers realize that the quality of diamonds varies, and most believe the higher
the price of a diamond, the higher its quality. This is an example of price influencing the
perception of overall quality, and therefore __________ to consumers.
A. acceptable cost
B. perceptual investment
C. barter potential
D. return on investment
E. value
Answer:
What kind of question is the following? “Place an X’ in the space that describes your
feelings about this test.” Easy __ __ __ __ __ Difficult
A. Likert scale
B. semantic differential scale
C. dichotomous question
D. open-ended question
E. sensitivity analysis question
Answer:
Marketing Research Method Photo
Consider the Marketing Research Method Photo above. What type of marketing
research method is most likely being represented here, with observers behind a one-way
mirror watching a discussion among people about topics of interest to marketers?
A. individual interview
B. questionnaire data
C. social network
D. information panel
E. focus group
Answer:
Most stores today are near several others in one of four settings: the central business
district, the regional shopping center, the power center, or the __________.
A. suburban downtown
B. strip mall
C. exurb value center
D. rural micromall
E. urban megacenter
Answer:
Analyzing data and presenting the results of this analysis would take place during
which step of the five-step marketing research approach?
A. collect relevant information
B. develop the research plan
C. develop findings
D. take marketing actions
E. define the problem
Answer:
A firm that reprocesses a product or service it buys before selling the product again to
the next buyer is referred to as a(n)
A. industrial firm.
B. reseller firm.
C. government agency.
D. wholesaler.
E. retailer.
Answer:
Self-regulation refers to
A. governmental guidelines that suggests what is legal and ethical and what is not.
B. a self-imposed set of rules set by a specific industry watchdog group that dictates
legal and ethical behaviors.
C. an alternative to government control where an industry attempts to police itself.
D. voluntary compliance to governmental rules and regulations set for a specific
industry.
E. a set of rules created and enforced by the FTC to which all members of an industry
voluntarily agree to comply.
Answer:
A product mix refers to
A. all of the different product lines offered by an organization.
B. the variations within a product class.
C. a specific product SKU that has a unique brand, size, or price.
D. a group of products that are closely related because they satisfy a class of needs, are
used together, are sold to the same customer group, are distributed through the same
types of outlets, or fall within a given price range.
E. the entire product category or industry.
Answer:
Sports Port, a motorcycle and fishing boat retailer located in a small northern
Minnesota town, was the world’s largest dealer for Crestliner fishing boats. In order to
meet the demand of his many customers, the owner of Sports Port works with a wide
variety of channel members, ranging from the manufacturer of the boats to trucking
firms, other retailers, and even detailers (firms that clean, polish, and wax boats). Such
a diverse channel of distribution often resulted in channel conflict. However, due to his
strong consumer following, the owner of Sports Port had the power to resolve disputes
between channel members. The owner of Sports Port serves as the __________ in the
channel of distribution.
A. wholesaler
B. producer
C. channel spokesperson
D. channel captain
E. channel arbitrator
Answer:
Exclusive distribution refers to
A. the distribution of products or services in markets where there are currently no other
competitors.
B. the distribution of products or services where the producer owns the entire channel
of distribution.
C. the density of distribution whereby a firm tries to place its products or services with
only one retail outlet in a specified geographical area.
D. the density of distribution whereby a firm tries to place its products or services in as
many outlets as possible.
E. the density of distribution whereby a firm tries to place its products or services in a
few retail outlets in a specific area.
Answer:
Between classes, many college students stop at conveniently located vending machines
for their favorite candy bars and soft drinks. Their choices are generally made quickly
and with little or no effort to consider alternative product offerings. These college
students are most likely involved in __________ problem solving purchase situations.
A. limited
B. routine
C. extensive
D. intensive
E. unlimited
Answer:
Figure 17-3
Figure 17-3 above depicts the sales management process that involves three interrelated
functions. Box A refers to __________.
A. sales plan implementation
B. salesforce determination
C. salesforce communication
D. sales plan formulation
E. salesforce evaluation
Answer:
Another name for an e-marketplace is a(n)
A. WebXChange.
B. WebMart.
C. 2B1 marketplace.
D. C2C market forum.
E. B2B exchange.
Answer:
Alternative firms that could provide a product to satisfy a specific market’s needs are
referred to as __________.
A. substitute firms
B. target markets
C. complementary firms
D. cross product marketers
E. competition
Answer:
Prestige pricing refers to
A. charging different prices to different buyers for goods of like grade and quality.
B. setting a low initial price on a new product to appeal immediately to the mass market
odd-even pricing.
C. setting a market price for a product or product class based on a subjective feel for the
competitors’ price or market price.
D. setting a high price so that quality- or status-conscious consumers will be attracted to
the product and buy it.
E. setting a price that is dictated by tradition, a standardized channel of distribution, or
other competitive factors.
Answer:
Figure 12-3
Figure 12-3 above depicts the four most common marketing channels for consumer
products and services. X represents
A. consumers.
B. industrial users.
C. wholesalers.
D. agents or brokers.
E. retailers.
Answer:
Shopping products refer to items that the consumer
A. purchases frequently, conveniently, and with a minimum of effort.
B. compares several alternatives on criteria such as price, quality, or style.
C. makes a special effort to search out and buy.
D. does not know about or knows about but does not initially buy.
E. buys as a result of buying others’ consumer products, such as impulse purchases.
Answer:
A firm’s profit equation demonstrates that profit equals __________.
A. Total cost + Total revenue
B. Total revenue – Total cost
C. Marginal revenue – Marginal cost
D. Price Quantity
E. Total revenue + Marginal cost
Answer:
One of the advantages associated with television as an advertising medium is that it
A. has a short exposure time.
B. can reach extremely large audiences.
C. is a low-cost medium.
D. has an unlimited amount of advertising time available.
E. can be used to convey complex messages.
Answer:
Experts suggest that the customer experience management (CEM) process should be all
of the following EXCEPT:
A. consistent.
B. undifferentiated.
C. valuable.
D. intentional.
E. relevant.
Answer:
A representative from AT&T called Dr. Michaels after he switched to its new U-verse
telephone system. The firm wanted to make certain he was satisfied and asked if he had
any questions concerning his new service. This is an example of a(n) __________ call.
A. assumptive
B. preemptive
C. follow-up
D. prospecting
E. courtesy
Answer:
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:
Which of the following statements regarding sales goals is most accurate?
A. For marketing managers, sales revenue or unit sales can be easily translated into
meaningful targets for a product line or brand.
B. Cutting prices for a single product in a product line to raise unit sales often results in
an increase in sales for related products in the line.
C. Very often, cutting prices results in a decrease in market share.
D. Setting unit volume sales as a pricing objective results in price wars with
competitors, so the practice is limited to industries with few competitors.
E. An advantage of increasing unit volume sales is that it always results in an increase
in profits.
Answer:
Which of the following is a cost-oriented pricing method?
A. loss leader pricing
B. standard markup pricing
C. at-, above-, or below-market pricing
D. price lining
E. penetration pricing
Answer:
A university’s marketing department typically purchases backpacks with its logo
embroidered on them for all incoming freshmen. This year, because they’ve heard
complaints, the marketing chair wants to buy similar backpacks but find one that is a
little more durable. This is an example of a
A. new buy.
B. straight rebuy.
C. make-buy.
D. modified rebuy.
E. standard reorder.
Answer:
Figure 15-1
With respect to Figure 15-1 above, __________ spending accounts for 11% of all
advertising expenditures?
A. Internet
B. television
C. direct mail
D. newspapers
E. magazines
Answer:
The retail mall owner told the marketing researcher, “We have the option of staying
open late twice a week or opening up an hour early every day. We need to know which
will be most profitable since we cannot do both. The decision must be made in 11
weeks and we only have $10,000 budgeted for this research project.” In which step of
the marketing research process would the owner determine this budget and time frame?
A. define the problem
B. develop the research plan
C. collect relevant information
D. develop findings and recommendations
E. take marketing actions
Answer:
Marketing drivers are used with which of the four Ps?
A. product, price, place only
B. product, promotion, people only
C. product features only
D. product features and price only
E. product, promotion, price, and place inclusively
Answer:
BzzAgent researches a product or service before committing to a campaign and rejects
about __________ of the companies that seek its service.
A. 20 percent
B. 40 percent
C. 50 percent
D. 70 percent
E. 80 percent
Answer: