Refer to the scenario below to answer the following question(s).
Kimberly’s Crown sells and designs jewelry. Despite the jewelry’s popularity, products
are available only through a few shopping stores across the country.
What mode of transport should Kimberly use to ship its goods over long distances as
quickly as possible?
A) flatcars
B) water transport
C) air transport
D) trucks
E) railroads
Cost-plus pricing ________.
A) is a complex pricing method
B) involves pricing that accurately reflects production costs
C) involves adding a standard markup for profit
D) aims at breaking even on the costs of making and marketing a product
E) is a value-based pricing method
________ involves essentially using the same marketing strategy approaches and
marketing mix worldwide
A) Adapted global marketing
B) Ambush marketing
C) Standardized global marketing
D) Export marketing
E) Niche marketing
A recent study conducted by Estelle Cosmetics Company showed that heavy users of
Estelle’s products comprise a small percentage of the market. The study indicated that
less than 7 percent of all shoppers buy nearly 71 percent of Estelle’s products in the
United States. This is an example of ________.
A) benefit segmentation
B) segmentation by loyalty status
C) segmentation by usage rate
D) psychographic segmentation
E) occasion segmentation
A university enrolled 200 graduate students in the Fall of 2011. However, the
enrollment rate was only slightly affected following a 12-percent hike in tuition the
following fall. This illustrates ________ demand.
A) derived
B) negative
C) highly elastic
D) composite
E) inelastic
Green Bees, a popular American heavy-metal band, will perform in Berlin during
Christmas. There is a high demand for concert tickets among fans worldwide who are
looking forward to the much-awaited performance. In this instance, the high demand
for tickets for the Green Bees concert is representative of ________ demand.
A) primary
B) negative
C) derived
D) elastic
E) business
Wholesome Soups, a maker of organic soups, is starting a new marketing campaign
emphasizing the ease of preparing and eating Wholesome Soups. Print, television, and
Internet ads feature college students enjoying Wholesome Soups in between classes and
during study breaks. Wholesome Soups’ new marketing campaign is most likely aimed
at which of the following?
A) Baby Boomers
B) Gen Zers
C) Gen Xers
D) Millennials
E) the SOHO market
TerraPass is a company that offers consumers the opportunity to buy carbon offsets,
which are contributions to projects that combat global warming by reducing carbon
emissions. TerraPass offers contribution packages for driving, flying, and home energy
use. Through TerraPass, consumers can pay some of the ________ costs of their private
goods and services.
A) promotional
B) safety
C) health
D) distribution
E) social
________ involves gathering primary data by asking people questions about their
knowledge, attitudes, preferences, or buying behavior. It is the most widely used
method for primary data collection.
A) Experimental research
B) Causal research
C) Ethnographic research
D) Survey research
E) Exploratory research
Who among the following does NOT participate in the purchase decision process of a
buying organization?
A) individuals who use the product or service
B) individuals who influence the buying decision
C) individuals who make the buying decision
D) individuals who supply raw materials
E) individuals who control the flow of information to others
Lifebelt Insurance sells insurance only through its door-to-door salespeople. What type
of marketing channel does Lifebelt use?
A) inclusive
B) multitiered
C) indirect
D) direct
E) selective
The discount offered by Glamor Gifts to customers who bought Valentine-themed
merchandise the week following Valentine’s Day is an example of a ________.
A) functional discount
B) seasonal discount
C) trade discount
D) cash discount
E) time-based discount
In Viña del Mar, Chile, a large number of shops specialize in selling the same quality
of seafood products along the beach frequented by tourists. No individual shop dares
charge more than the going price without fearing loss of business to other shops. This
exemplifies ________.
A) pure competition
B) monopolistic competition
C) oligopolistic competition
D) pure monopoly
E) the dominant firm model
P&G has sold off a number of lesser or declining brands such as Oxydol detergent and
Jif peanut butter. In these examples, management decided to ________ the products.
A) modify
B) maintain
C) drop
D) harvest
E) franchise
Glee and The Wall Street Journal are both examples of ________-specific media within
each general media type.
A) alternative media
B) major media
C) media vehicles
D) media multitaskers
E) micromedia
To remain number one, leading firms can take any of three actions. First, they can find
ways to expand total demand. Second, they can protect their current market share
through good defensive and offensive actions. Third, they can ________.
A) focus exclusively on divestment
B) evaluate current employees and reduce costs through downsizing
C) run smaller companies out of business, causing them to sell out to larger firms
D) try to expand their market share further, even if market size remains constant
E) shut down current company locations and reopen in highly populated areas
Which of the following is included in the second part of the marketing strategy
statement?
A) advertising tagline
B) promotional mix
C) planned price
D) customer segmentation
E) operational excellence
Brand ________ refers to how consumers feel if a brand meets their needs.
A) differentiation
B) equity
C) dilution
D) esteem
E) relevance
Which of the following is a cost-based approach to pricing?
A) value-based pricing
B) high-low pricing
C) target return pricing
D) good value pricing
E) EDLP
Any paid form of nonpersonal presentation and promotion of ideas, goods, or services
by an identified sponsor is called ________.
A) sales promotion
B) advertising
C) direct marketing
D) personal selling
E) public relations
The more formal “business attire” look of corporate dress of the 1980s and 1990s gave
way to the “business casual” look of the 2000s. This is an example of a ________.
A) style
B) fashion
C) fad
D) subculture
E) norm
The fact that people are dropping out of organized religion doesn’t mean that they are
abandoning their faith. Some futurists have noted a renewed interest in ________,
perhaps as a part of a broader search for a new inner purpose.
A) interacting with nature
B) the fine arts
C) charitable giving
D) spirituality
E) materialism