Which of the following is a location-based social networking site?
a. Facebook
b. Twitter
c. WordPress
d. FourSquare
Answer:
Jaggd Inc., an electronic goods manufacturing company, was planning to launch its
latest smartphone in the market.Within the first few days of launching the phone,Jaggd
wanted to earn as much revenue as the cost incurred in manufacturing the phone. So, it
priced the phoneabout as high as the market would allow. In this case,Jaggd entered the
market with a _____ approach to pricing the smartphone.
a. market share pricing
b. profit maximization
c. demand-oriented
d. sales maximization
Answer:
According to garment makers, the demands of large customers are nearly wiping out
profits for all but the very large suppliers.
a. True
b. False
Answer:
Marketers at Libra Electronics are developing strategies to increase product sales. The
marketers want to use a good blend of digital advertising and print advertising. This
implies that the marketers at Libra Electronics are working on _____ strategies.
a. divesting
b. product
c. place
d. promotion
Answer:
Personality refers to how consumers perceive themselves in terms of attitudes,
perceptions, and beliefs.
a. True
b. False
Answer:
Melrow Inc., a U.S. firm, suffers heavy losses and lays off many of its employees. As a
measure to reduce its manufacturing costs, it shifts its production units to another
country where inexpensive labor is available. In this scenario, Melrow Inc. is engaged
in _____.
a. licensing
b. outsourcing
c. franchising
d. inshoring
Answer:
Target markets are sometimes defined on bases such as young singles, young married
couples with children, and middle-aged married couples without children. Such target
markets are most likely defined in terms of _____.
a. the family life cycle
b. gender demographics
c. cultural differences
d. the socialization process
Answer:
In the context of the eight stages of effective listening, which of the following is a
purpose of stage one, listening without objectives?
a. Identifying influencers to improve overall marketing strategy
b. Measuring impact of satisfaction or frustration during interaction
c. Generating high sense of satisfaction for customers
d. Keeping up with brand and competitor information
Answer:
An effective distribution network can sometimes overcome other minor flaws in the
marketing mix.
a. True
b. False
Answer:
Which of the following is true of supply chain agility?
a. It helps companies limit the resources they spend on activities that create direct
customer benefits.
b. It seeks to reduce the interactions between a company and its suppliers and service
providers.
c. It enables a company to offer better customer service but at an increased supply chain
cost.
d. It allows companies to adapt quickly and easily to customer needs.
Answer:
Evaluating an advertising campaign can be the most demanding task facing advertisers.
a. True
b. False
Answer:
In a buying center, the person who has the formal or informal power to choose or
approve the selection of a supplier or brand is known as the _____.
a. decider
b. purchaser
c. gatekeeper
d. influencer
Answer:
Global marketers use social media not only for understanding customers but also to
build their brands as they expand internationally.
a. True
b. False
Answer:
Which of the following is an example of demographic information?
a. An individual’s level of intelligence
b. An individual’s moral values
c. An individual’s hobbies
d. An individual’s age
Answer:
Francis, a restaurant chain’s social media manager, wants to conduct an online contest
to promote his restaurant. He conducts the contest in a social networking site which
allows people to post only 140-characters long updates. In this context, Francis has used
-_____ to conduct the contest.
a. social review sites
b. media sharing sites
c. private blogs
d. microblogs
Answer:
Marketing managers need to understand the desires of consumers in order to create a
proper marketing mix for a well-defined market.
a. True
b. False
Answer:
When Prisly Inc. introduced a liquid detergent in the market, it noticed that the sales of
its detergent powder significantly declined. Prisly Inc.’s loyal customers who previously
purchased detergent powder switched to liquid detergent. As a result, Prisly Inc. was
forced to reduce production of its detergent powder. This scenario exemplifies _____.
a. segmentation
b. diversification
c. differentiation
d. cannibalization
Answer:
Kirksand Hotels is renowned for its service and individual treatment of its customers.
All service staff and employees are encouraged to listen carefully to customers’ wants
and needs. For instance, if a traveler ordered soft pillows, wanted only martinis in his
mini bar, and needed access to a fax machine, he would find all of these amenities in his
room when he arrived. In this scenario, on which of the following trends has Kirksand
Hotels based its customer relationship management (CRM)?
a. Personalization
b. Time savings
c. Loyalty
d. Technology
Answer:
Alex had purchased a battery-operated drill. The drill overheated and exploded when he
tried to use it. It was determined that the explosion was due to a problem with how the
drill was manufactured. Alex can lodge a complaint about the drill at the _____.
a. Consumer Product Safety Commission
b. Consumer Protection Commission
c. Federal Trade Commission
d. Department of Trade
Answer:
Trademark protection and rights only last for five years.
a. True
b. False
Answer:
Which type of social media user posts comments, ratings, and reviews of products and
services on blogs and forums?
a. Critics
b. Spectators
c. Joiners
d. Inactives
Answer:
Social Media have changed the way we communicate, keep track of others, browse for
products and services, and make purchases.
a. True
b. False
Answer:
Synergy Inc. has developed a line of appliances that run on the sun’s energy and cause
no harm to the environment. The company is also planning to introduce battery-run
motorbikes that release no pollution. Which of the following concepts is illustrated in
this scenario?
a. Divestment
b. Opportunism
c. Green marketing
d. Cause-related marketing
Answer:
_____ is any potential disruption that threatens a supply chain’s efficient and effective
operations.
a. Supply chain integration
b. Supply chain resiliency
c. Supply chain sustenance
d. Supply chain risk
Answer:
Sales of some technical products and services typically take many months, perhaps
even years, to complete.
a. True
b. False
Answer:
Thompson Crayons Ltd. is a manufacturer of crayons and colored pencils in Rhodia.
The company has started packaging their products in vibrant colored boxes, as opposed
to brown boxes used in the past, in order to increase their sales. In this scenario,
Thompson Crayons Ltd. is using a _____ strategy.
a. product differentiation
b. market development
c. diversification
d. market penetration
Answer:
A similarity between materials requirement planning (MRP) and distribution resource
planning (DRP) is that both inventory systems:
a. require the manufacturer to keep inventory levels as high as possible.
b. help manage inventory from manufacturer to end user rather than from the suppliers
to the manufacturer.
c. use various inputs, such as sales forecasts, available inventory, and so on, to
determine what needs to be done to replenish goods at all points in the supply chain.
d. prohibit the use of buffer stocks as insurance against unexpected demand increases.
Answer:
A _____ is a business structure of interdependent organizations that reaches from the
point of production to the consumer and facilitates the downstream physical movement
of goods through the supply chain.
a. market grouping
b. common trade alliance
c. retailer monopoly
d. marketing channel
Answer: