Which of the following statements is true regarding social classes in the United States?
A) Social class is determined by income alone.
B) Lines between social classes in the United States are fixed and rigid.
C) Social classes show distinct product preferences in clothing and automobiles.
D) Wealth is more critical than education level in measuring social class.
E) People are relegated to a permanent social class in the United States.
Answer:
Which of the following is an advantage of using a sales force automation system?
A) lowers sales team training costs
B) records major competitor’s sales
C) eliminates the need for an inside sales force
D) eliminates employee attrition
E) improves customer service
Answer:
Under ________, the market consists of many buyers and sellers who trade over a range
of prices rather than a single market price.
A) pure competition
B) monopolistic competition
C) oligopolistic competition
D) a pure monopoly
E) the dominant firm model
Answer:
The management of two Panizza restaurants has an ongoing disagreement over the
discount rate given to students from the local high school. This is an example of
________ conflict.
A) intensive
B) selective
C) exclusive
D) horizontal
E) vertical
Answer:
Which of the following is true with regard to marketing research?
A) The marketing research process depends primarily on sophisticated internal
databases.
B) The marketing research process requires assessing macroeconomic forces.
C) Marketing research gives marketers insights into customer motivations.
D) Marketing research eliminates the need for a SWOT analysis.
E) Marketing research is a simple two-step process.
Answer:
P&G introduced Duncan Hines ready-to-spread frosting in a small geographic area.
When General Mills became aware of the product, it rushed to market its own Betty
Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product
introduction. This illustrates ________.
A) why many companies engage in crowdsourcing
B) one of the problems associated with test marketing
C) why prototypes are so important
D) how idea screening can make a product a commercial success
E) the importance of different sources for idea generation
Answer:
A company is guilty of ________ if the company forgets latent competitors and only
focuses on current competitors.
A) perfect competition
B) self-competition
C) Cournot competition
D) competitor backlinking
E) competitor myopia
Answer:
An ad for Maybelline age-minimizing makeup in Ladies’ Home Journal magazine
featured actress Melina Kanakaredes and offered readers a $1-off coupon when they
tried the new makeup. In terms of the communication model, the sender of this message
is ________.
A) Melina Kanakaredes
B) Ladies’ Home Journal
C) readers who redeem the $1-off coupon
D) Maybelline
E) the target market to which Melina Kanakaredes appeals
Answer:
The decision-making unit of a purchasing organization is called its ________.
A) value chain
B) buying center
C) customer support system
D) quality center
E) innovation center
Answer:
Kinger Auto specializes in selling low-quality used vehicles that are priced a good deal
lower than other used cars. Which of the following value propositions is evident here?
A) more for the same
B) more for less
C) same for less
D) less for much less
E) more for more
Answer:
Which of the following is true with regard to a market segment?
A) A market segment consists of consumers with dissimilar needs and preferences.
B) A market segment consists of consumers who respond in a similar way to a given set
of marketing efforts.
C) Very few markets have segments.
D) Dividing the market into segments decreases the efficiency of the selling process.
E) Dividing the market into segments reduces composite demand.
Answer: