A product is in the maturity stage of the product life cycle, and the company decides to
modify the marketing mix. Which of the following steps is the company most likely to
take?
A) use aggressive sales promotions
B) change features of the product
C) improve product quality
D) find new uses for the product
E) explore new market segments
Answer:
Which of the following is a type of off-price retailer?
A) specialty store
B) full-service retailer
C) discount store
D) warehouse club
E) supermarket
Answer:
Critics claim that the urban poor often have to shop in smaller stores that carry inferior
goods and charge higher prices because the large, national chain stores refuse to
establish stores. This is known as the discriminatory practice of ________.
A) perceived obsolescence
B) reverse redlining
C) redlining
D) puffery
E) planned obsolescence
Answer:
In managing their international marketing activities, most companies first ________.
A) organize an import department
B) create an international division
C) initiate foreign direct investment
D) form a domestic subsidiary
E) organize an export department
Answer:
________ ventures consist of one company collaborating with foreign investors to
create a local business in which they share possession and control.
A) Licensing
B) Direct investment
C) Contract manufacturing
D) Management contracting
E) Joint ownership
Answer:
At the extreme, micromarketing becomes ________ insofar as products and marketing
programs are tailored to the needs and preferences of customers.
A) differentiated marketing
B) multi-segmented marketing
C) local marketing
D) mass marketing
E) individual marketing
Answer:
The overall process of building and maintaining profitable customer relationships by
delivering superior customer value and satisfaction is referred to as ________.
A) perceived-value management
B) societal marketing
C) customer relationship management
D) partner relationship management
E) enterprise resource planning
Answer:
Harry’s caters to the clothing needs of men, manufacturing two different lines of fashion
based on the purchasing power of its customers. One product line caters to the needs of
affluent, middle-aged men, and the other line targets younger, up-and-coming
professionals. Harry’s most likely segments the consumer market based on ________
variables.
A) geographic
B) psychographic
C) universal
D) demographic
E) behavioral
Answer:
Sleek Designs markets a wide range of kitchen cabinets, counter tops, and ceramic tile.
Its salespeople are initially divided on the basis of their expertise in a product category.
They’re then further divided into teams addressing large home improvement retailers,
kitchen and bath suppliers, and specialty home improvement stores. Which of the
following sales-force structures has most likely been combined to form this complex
sales-force structure?
A) territorial and market
B) product and market
C) product and territorial
D) geographical and product
E) market and customer
Answer:
Which of the following is most likely true about the digital age with regards to
marketing?
A) The number of businesses connecting people over digital networks is in decline.
B) Digital networks allow marketers many ways to build customer relationships.
C) The Internet has had little impact on the ways consumers purchase products.
D) Most firms are shifting back to traditional marketing forms to build customer value.
E) Online-only marketing is more commonly used by firms than multichannel
marketing.
Answer:
What is the purpose of a sales manager using a time-and-duty analysis?
A) compensating salespeople
B) prospecting customers
C) recruiting salespeople
D) forming sales teams
E) supervising salespeople
Answer:
The process in which printed catalogs, brochures, samples, and DVDs are distributed to
customers using highly selective mailing lists is known as ________.
A) mass marketing
B) direct-mail marketing
C) telemarketing
D) internal marketing
E) kiosk marketing
Answer:
Which link in the service profit chain emphasizes superior employee selection and
training?
A) healthy service profits and growth
B) satisfied and loyal customers
C) greater service value
D) satisfied and productive service employees
E) internal service quality
Answer:
Which of the following is true of the product life cycle (PLC)?
A) All products generally go through all five stages of the PLC.
B) All products pass through the stages of PLC in the same order.
C) It is generally difficult to forecast the sales level at each PLC stage.
D) The PLC concept can be applied to styles but not to fashions and fads.
E) Product forms have longer life cycles than product classes.
Answer:
Bateman Gray Motors sells the cars it produces using dedicated dealers who only sell
Bateman Gray’s products at their outlets. What kind of marketing strategy has Bateman
Gray adopted with its car dealers?
A) direct marketing
B) exclusive dealing
C) disintermediation
D) horizontal integration
E) vertical integration
Answer:
The ________ concept specifically focuses on the future welfare of customers, but not
on future company needs.
A) societal marketing
B) strategic planning
C) sustainable marketing
D) marketing
E) selling
Answer:
Fox Scully received an e-mail promoting a new financial services institution that offers
surprisingly low mortgage rates. The e-mail asked customers to provide their address,
date of birth, Social Security number, and current mortgage information in order to
receive a free loan quote. Suspicious of the offer, Fox researched the company and
discovered that the e-mail was fraudulent. This is an example of ________.
A) cold calling
B) phishing
C) crowdsourcing
D) data mining
E) viral marketing
Answer:
Which of the following strategies is most likely to be followed by firms that position
themselves as caterers of the best products at economical prices?
A) more-for-the-same
B) more-for-less
C) same-for-less
D) more-for-more
E) less-for-much-less
Answer:
When a company interacts one-on-one with large numbers of customers to create
customer-unique value by designing products and services tailor-made to individual
needs, it is engaging in ________.
A) concentrated marketing
B) mass marketing
C) mass customization
D) differentiated marketing
E) local marketing
Answer:
Companies that organize their sales force by customer and territory; product and
territory; product and customer; or territory, product, and customer are using a
________ sales-force structure.
A) market
B) simple
C) product
D) territorial
E) complex
Answer:
What is telemarketing?
A) It is the process of promoting products through 30-minute-long infomercials.
B) It is a form of marketing that uses the telephone to sell directly to businesses and
consumers.
C) It is the process of marketing products and services using direct-response television
advertising.
D) It is a marketing system where product information is provided through unmanned
ordering machines.
E) It is the process of selling products through affiliate networks and social media sites.
Answer:
Lemony Inc. sells its popular bottled lemonade the company’s only product in various
geographic locations through tie-ups and agreements with retailers. Each location is
represented by two salespersons, one of whom serves current customers while the other
finds new ones. Which of the following sales-force structures has most likely been
combined to form the complex sales-force structure at Lemony Inc.?
A) market and territorial
B) market and customer
C) product and territorial
D) market and product
E) geographical and product
Answer:
Which of the following is most likely true of a sales force?
A) The performance difference between an average salesperson and a top salesperson is
generally substantial.
B) The cost of replacing a salesperson is usually low because minimal training is
necessary.
C) A sales force with many new people is typically more productive than one whose
members have been around for a long time.
D) Individuals within a sales force generally perform at the same level of efficiency.
E) On-site sales training is more efficient and less costly than e-learning programs.
Answer:
Vertigo is an electronics company. According to the BCG matrix, which of the
following products of Vertigo would most likely classify as a question mark?
A) Blue a cell phone that is designed for music lovers and has a very low market share
in a market that is growing steadily
B) Electra a home entertainment system that has a strong market share in a market that
is likely to expand in the future
C) Jump an MP3 player that has a high market share in a market that is not expected to
grow significantly
D) SpinDrive a car audio system that has a high market share in a market that has been
growing constantly
E) SoLo a CD player that has a very low market share in a market that is shrinking
rapidly
Answer:
Which of the following best describes the term “Madison and Vine”?
A) utilizing the slice of life style of advertising
B) emphasizing reach over impact in advertising
C) using social media for advertising a brand
D) merging advertising with entertainment
E) voicing social concerns through advertising
Answer:
Which of the following is a promotion tool used for trade promotions?
A) sweepstakes
B) price packs
C) conventions
D) rebates
E) allowances
Answer:
A child in the United States is exposed to many values including achievement and
success, freedom, individualism, hard work, and material comfort. These are symbolic
of American ________.
A) subculture
B) culture
C) society
D) perceptions
E) expectations
Answer:
Which of the following is most likely categorized as a business market?
A) government agencies that buy goods and services to produce public services
B) individuals who buy goods and services for personal consumption
C) firms that buy goods and services for further processing
D) firms that buy goods and services to resell for profit
E) retail outlets that buy goods and services to sell at discounted prices
Answer:
Vernon Inc. would like to set the best price for a new product. The firm conducts an
experimental study by selling the new product at two different prices in two different
locations keeping other factors constant to see if a lower price results in better sales.
This is most likely an example of ________ research.
A) exploratory
B) descriptive
C) causal
D) focus group
E) ethnographic
Answer:
A greater focus on underlying customer needs than on existing customer wants leads to
marketing myopia.
Answer: