_____ are responsible for working with suppliers and arranging the terms of sale.
A. Gatekeepers
B. Deciders
C. Influencers
D. Users
E. Buyers
Answer:
“Price fixing” means:
A. changing a price that was set at the wrong level by the financial manager.
B. pricing a product that will be sold in a foreign market at a level below the cost of
production.
C. selling products of like grade and quality to different buyers at different prices.
D. a firm consciously setting its prices.
E. competitors getting together to raise, lower, or stabilize prices.
Answer:
Behavioral (as opposed to demographic) segmenting dimensions include:
A. family life cycle.
B. geographic location.
C. education.
D. social class.
E. purchase relationship.
Answer:
The Sherman Act and the Clayton Act:
A. were intended to protect large producers.
B. were designed to limit competition.
C. were passed during the rash of corporate takeovers in the 1980s.
D. None of these is correct.
Answer:
A producer of electrical components combined electrical supply wholesalers and
manufacturers of electrical equipment into the same market segment-one of several
segments it was targeting. Soon it lost the manufacturers’ business to a competitor. It
seems that the firm failed to consider the risk of
A. too much aggregating.
B. insulting the manufacturers by putting them in the same market segment with the
wholesalers.
C. picking market segments based on qualifying dimensions.
D. selecting market segments that were not substantial.
E. using too many segmenting dimensions.
Answer:
Providing training in selling techniques helps a salesperson in all of the following ways
except
A. winning new customers by disparaging competitors.
B. listening carefully to identify a customer’s real objections.
C. closing the sale.
D. working with customers in difficult customer service situations.
E. how to be more effective in cold calls on new prospects.
Answer:
A business products producer which has given its salespeople the right to adjust prices
when necessary to get new business is using a ______________ policy.
A. flexible-price
B. target-return pricing
C. penetration pricing
D. one-price
E. skimming pricing
Answer:
The “mass-merchandising” concept:
A. suggests aiming at small but profitable target markets.
B. focuses on increasing sales and speeding turnover by lowering prices.
C. supports the conventional retailer’s “buy-low and sell-high” philosophy.
D. stresses the need for conventional stores.
E. All of these alternatives are correct for the “mass-merchandising” concept.
Answer:
Big Fizz Co., a manufacturer of cola-flavored drinks, wants to add packaged fruit juices
to its existing product line. Big Fizz needs to make some decisions regarding packaging
and branding of the fruit juices. These decisions would fall under which variable of the
marketing mix?
A. Product
B. Place
C. Promotion
D. Price
E. Personal selling
Answer:
Marginal analysis:
A. can be very useful if a firm’s pricing objective is profit maximization.
B. focuses on the last unit which will be sold.
C. can be used to find the most profitable price and quantity.
D. can help find the price that results in the greatest difference between total revenue
and total cost.
E. All of these alternatives are correct.
Answer:
All of the following products are in the market maturity stage of the product life cycle
except:
A. laundry detergents.
B. breakfast cereals.
C. solar roof cells for home electricity generation.
D. carbonated soft drinks.
E. gasoline-powered cars.
Answer:
Competitive advertising which makes specific brand comparisons-using actual names-is
______________ advertising.
A. direct competitive
B. cooperative
C. comparative
D. pioneering
E. institutional
Answer:
Which of the following is NOT true of a product-market?
A. Competing suppliers offer close substitutes to satisfy needs.
B. Customers in a product-market have very similar needs.
C. Very different types of products may compete for consumer dollars.
D. Naming product-markets includes consideration of where the customers are.
E. None of these alternatives is true.
Answer:
Statistical packages are:
A. easy-to-use computer programs that analyze data.
B. syndicated research services that do quantitative research.
C. procedures used to be sure that a sample is representative.
D. product packages that make it possible to collect data at checkout counters.
E. None of these alternatives is a good answer.
Answer:
Exclusive distribution is selling through only one intermediary in each geographic area.
Answer:
Which of the following observations concerning F.O.B. pricing is not true?
A. Typically, it names the place.
B. F.O.B. shipping point pricing may narrow the market.
C. F.O.B. shipping point pricing complicates the seller’s pricing.
D. If a firm wants to pay the freight for the convenience of customers, it can use F.O.B.
delivered.
E. A firm can use F.O.B. buyer’s factory if it wants to pay the freight.
Answer:
The _____ area of the marketing mix includes decisions related to telling the target
market or others in the channel of distribution about the “right” product.
A. product
B. place
C. promotion
D. price
E. communication
Answer:
The product life cycle:
A. describes the stages a new product idea goes through from beginning to end.
B. has five major stages.
C. applies more to individual brands than to categories or types of products.
D. shows that sales and profits tend to move together over time.
E. All of these alternatives are correct.
Answer:
Data that has been collected or published already is:
A. primary data.
B. free.
C. franchised data.
D. secondary data.
E. none of these are good choices.
Answer:
Marketing intermediaries and collaborators can often perform marketing functions:
A. worse than producers or consumers can perform them.
B. which leaves producers with more time for production.
C. which leaves consumers with less time for consumption.
D. at a high cost-because of specialization, economies of scale, or e-commerce.
Answer:
Which of the following is NOT a business raw material?
A. Logs.
B. Coal.
C. Wheat.
D. Cattle.
E. All of these are business raw materials.
Answer:
Advertising spending as a percent of sales dollars is largest for:
A. toys.
B. cable TV.
C. computers.
D. motor vehicles.
E. malt beverages.
Answer:
When a customer who buys two Apple iPhones, an Apple iMac computer, and Apple
TV over a period of several years, Apple’s marketing managers should be thinking
about:
A. diversification.
B. mass marketing.
C. differentiation.
D. customer lifetime value.
E. customer feedback loops.
Answer:
Which of the following statements about sales promotion is NOT TRUE?
A. Sales promotion refers to those promotion activities that stimulate interest, trial, or
purchase by final consumers.
B. A particular sales promotion activity usually lasts for only a limited time period.
C. It is generally used to complement the other promotion methods.
D. Sales promotion objectives usually focus on prompting some long-term action.
E. Sales promotion can often be implemented quickly and get sales results sooner than
advertising.
Answer:
Which of the following objectives of a business is the most important?
A. To engage in some specific business activity, which will perform a socially and
economically useful function.
B. To develop an organization to carry on the business and implement its strategies.
C. To earn enough profit to survive.
D. All three of these objectives are equally important, because a failure in any one could
lead to a total failure of the business.
Answer:
The owner of a company that produces electronic circuit boards sees many competitors
with extra capacity and says, “the only hope is that our sales manager, who makes all of
our marketing decisions, will find a way to sell more boards.” It seems that this
company is run as if it were in the:
A. production era.
B. sales era.
C. excess capacity era.
D. marketing company era.
E. marketing department era.
Answer:
Order takers:
A. are not necessary if the firm has good order getters.
B. are the routine contact people in the sales force.
C. usually don’t call on customers.
D. do not require any specialized training.
E. All of these alternatives are correct.
Answer:
Which of the following is NOT one of the steps of the “adoption process?”
A. Involvement
B. Awareness
C. Interest
D. Evaluation
E. Trial
Answer:
“Product” means:
A. A physical good or service that offers potential customer satisfaction.
B. A physical good with all its related features.
C. The entire physical output of a firm.
D. All of the elements in a firm’s marketing mix.
E. Something that has been produced, packaged, branded, and given a warranty.
Answer:
_____ are one widely used form of qualitative questioning in marketing research.
A. Focus group interviews
B. Situation analyses
C. Telephone surveys
D. Direct observations of customers
E. Experimental research studies
Answer:
The main difference between naming broad product-markets and market segmentation
is:
A. naming is a computerized process, while segmentation requires more thought.
B. naming is concerned with customers, while segmentation is concerned with product
features.
C. naming involves breaking down markets, while segmentation involves aggregating
customers with similar needs.
D. naming involves looking for similarities, while segmentation involves looking for
differences.
E. None of these alternatives is correct.
Answer:
____ dimensions actually affect the customer’s purchase of a specific product or brand
in a product-market.
A. Behavioral
B. Demographic
C. Determining
D. Qualifying
E. Geographic
Answer:
Introductory price dealing:
A. would not be used if other competitors already had competing products on the
market at a price consumers found acceptable.
B. is often viewed by competitors as a ‘stay out” price.
C. usually sets off price wars.
D. is different from penetration pricing.
E. can apply only to final consumers, not channel members.
Answer: