Franklin Inc., an apparel manufacturer based in Scotland, opened a new store in the
United States. Franklin's designs were well received by consumers in the host country.
However, the firm incurred very high expenses due to the expensive rents and the
higher costs of labor. Also, there was a hike in the price of fuel in the United States.
This led to increased expenditures on the transportation of goods. This indicates that
Franklin Inc. had serious issues in the United States due to poor:
A. political conditions.
B. legal conditions.
C. economic conditions.
D. cultural conditions.
Answer:
Which of the following is a sales forecasting method that obtains the combined views
of the sales force about the future outlook for sales?
A. Sales force executive opinion method
B. Sales force composite method
C. Sales force time-series analysis
D. Sales force correlation analysis
Answer:
Johnson & Coleman has created a new line of premium quality writing desks. The
company marketed the product by highlighting its durability and functionality.
According to the VALSâ„¢, to which of the following psychographic groups would the
writing desk appeal the most?
A. Achievers
B. Strivers
C. Experiencers
D. Thinkers
Answer:
Which of the following is an internal factor that can either facilitate or impede a
company's efforts to undertake a global approach to marketing strategies?
A. Competition
B. Economic conditions
C. The environment
D. Management process
Answer:
Origin International has developed a new device for monitoring refrigerant leaks in
supermarket refrigerated display cases. The devices are compliant with the latest
environmental standards. To identify supermarkets and convenience stores that would
be interested in its new product, Origin's sales department publishes an advertisement in
the supplement of the local newspaper with its basic contact details. A coupon is
attached to the advertisement in case interested store owners want to use it to seek
further information. Based on this scenario, it can be inferred that Origin is using _____
for its prospecting.
A. selected-lead searching
B. lead recruitment
C. lead qualifiers
D. random lead generation
Answer:
_____ research can yield a wealth of strategic information about customers, the
sponsoring company, and competitors.
A. Customer demographics
B. Customer satisfaction
C. Customer status
D. Customer profile
Answer:
A bank offering a guarantee of same-day loan processing is a typical example of which
of the following determinants of service quality?
A. Intangibility
B. Assurance
C. Sympathy
D. Empathy
Answer:
A computer manufacturer markets its computers through a variety of
methods'”telemarketing, catalog selling, cable selling, and online selling'”that do not
involve the use of intermediaries. Which of the following channels or types of
marketing is the manufacturer using?
A. Horizontal channel
B. Direct channel
C. Intermediary marketing
D. Administered marketing
Answer:
The starting point in the buying process involves the:
A. recognition of an unsatisfied need by the consumer.
B. collection of information by the consumer for the purchase.
C. segregation of pending purchase decisions of the consumer.
D. evaluation of alternatives based on what the consumer has already learnt.
Answer:
Which of the following is a significant characteristic of lower Americans?
A. Access to food stamps
B. Emphasis on family ties
C. Focus on recreational aspects
D. Concern with fashion
Answer:
Which of the following is a major constraint faced by global marketers in devising
global pricing strategies?
A. Restrictions on advertising
B. Export incentives
C. Non availability of media
D. Import duties
Answer:
If a market researcher is analyzing the current situation involving the problem to be
researched, he is most likely working on the _____.
A. performance of the research
B. purpose of the research
C. preparation of the research report
D. processing of research data
If a market researcher is analyzing the current situation involving the problem to be
researched, he is most likely working on the purpose of the research. At the end of
purpose of the research stage, managers and researchers should agree on (1) the current
situation involving the problem to be researched, (2) the nature of the problem, and (3)
the specific question or questions the research is designed to investigate.
Answer:
Which of the following is true of mass merchandisers?
A. They handle deep assortments in a limited number of product categories.
B. They compete on the basis of providing variety in different product categories and
low-priced products in their large assortments.
C. They are retailers whose primary advantages to consumers are suitable location,
close-in parking, and easy entry and exit.
D. They are large, low-priced limited-line retail chains that attempt to capitalize and
establish themselves in a single product category.
Answer:
_____ are consumer goods that are purchased frequently with minimum effort.
A. Specialty goods
B. Convenience goods
C. Shopping goods
D. Luxury goods
Answer:
A company tends to use penetration pricing when it:
A. perceives the demand for a new product to be price inelastic.
B. wants to charge a relatively high price on a new product.
C. expects competition to move in rapidly.
D. has a temporary monopoly in the market.
Answer:
Which of the following sources of information regarding a purchase decision refers to
handling, examining, and trying out a product while shopping?
A. Internal sources
B. Marketing sources
C. Experiential sources
D. Public sources
Experiential sources refer to handling, examining, and trying the product while
shopping. This usually requires an actual shopping trip by the individual and may be the
final source consulted before purchase.
Answer:
Amosa is employed at a firm that manufactures surfboards. He is currently tasked with
identifying a suitable vendor to supply fiberglass cloth to the company. After narrowing
down several suppliers from a list, he identified several suitable suppliers for the
company. According to the organizational buying process, in the next stage, Amosa
must:
A. determine whether the products are acceptable for future purchases or whether other
sources of supply should be found.
B. negotiate on price and terms and formal contracts stating quality, delivery, and
service criteria.
C. narrow down to a single supplier and establish a sole-sourcing relationship with the
vendor.
D. identify other products and services that the company may need in order to
accomplish its objectives.
Answer:
Which of the following best explains why Delicia Co., a manufacturer of potato chips,
prices each bag of potato chips at 99 cents rather than $1.00?
A. To encourage consumers to think these chips are less expensive
B. To attract those consumers who are not too keen about the quality of the chips
C. To create a signal that these chips are exceptionally fine
D. To increase sales by offering the chips at a discounted price
Answer:
India Apparel Inc. is a popular clothing manufacturer in India. It intends to introduce its
clothing line in the United States. However, before it does so on a large scale, it releases
a portion of its line in two select clothing retail stores in the United States. India
Apparel Inc. aims to sell the products on this small-scale basis to estimate consumer
acceptance and competitive retaliation before deciding whether its products will work
in the American market. This approach to marketing a product is called _____.
A. internal marketing
B. test marketing
C. digital marketing
D. social marketing
Answer:
