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Introductory price dealing involves setting high initial prices on a product when it is
introduced-to see how much consumers are willing to pay.
Answer:
Status quo pricing objectives suggest avoiding price competition, but may lead to very
aggressive competition with Promotion, Place, or Product.
Answer:
A manufacturers' agent represents a manufacturer in some specified geographic area,
while selling agents usually handle the entire output of one or more producers.
Answer:
CRM approaches are based on information from detailed customer databases.
Answer:
Trust is the confidence a person has in the promises or actions of another person, brand,
or company.
Answer:
There are more final consumers than business and organizational customers, so more is
purchased by final consumers.
Answer:
At some websites, Internet ads are free if the ads don't get results.
Answer:
Unfavorable trends in the domestic market environment may make the international
marketing environment very attractive.
Answer:
The Internet is not very useful for firms that want to target government markets.
Answer:
The Internet is an important aspect of the technological environment, but it isn't very
useful for getting information about competitors.
Answer:
A manager who aggregates all potential customers into a single product-market segment
is likely to find that the segment is not homogeneous.
Answer:
Almost every business transaction in our modern economy involves an exchange of
money.
Answer:
The AIDA model can help plan messages for advertisements.
Answer:
In a pure subsistence economy-when each family unit produces everything it
consumes-no marketing is involved.
Answer:
The main advantage of the prepared sales presentation approach is that it tends to work
equally well with different types of customers.
Answer:
When considering cost as a percent of sales, agent wholesalers are more expensive than
manufacturers' sales branches.
Answer:
Manufacturers are sometimes forced to use "multichannel distribution" because their
present channels are doing a poor job or are not reaching some potential customers.
Answer:
The stage of the product life cycle in which competitors are most likely to introduce
product improvements is the market growth stage.
Answer:
A marketing plan should contain specific information like costs and sales forecasts, but
not background information about customers, competitors, or the company's resources.
Answer:
To develop lasting relationships with customers, marketing-oriented firms need to focus
on customer satisfaction both before and after each sale.
Answer:
Interest rates usually decrease during periods of inflation.
Answer:
Value in use pricing considers what a customer will save by buying a product.
Answer:
Administered prices are prices agreed to by competing firms in a market.
Answer:
Sales managers often divide sales force responsibilities based on the seniority of the
salespeople.
Answer:
In the U.S., trucks carry more freight over more miles than any other mode of
transportation.
Answer:
The customer should not be considered part of a "marketing mix."
Answer:
The definition of quality focuses on the producer.
Answer:
A complete promotion blend may need to consider channel members (along the
channel) as well as customers (at the end of the channel).
Answer:
In direct-response promotion, CRM databases have been successful in targeting final
consumers but have been of little help in targeting business customers.
Answer:
In business markets, suppliers usually want close relationships with customers;
however, there's little benefit to the customer of having closer relationships with
suppliers.
Answer:
When the end benefit of a purchase is significant to the customer, he is likely to be less
price sensitive.
Answer:
Personal selling and advertising are both forms of sales promotion.
Answer:
During the traditional communication process, a source does decoding and a receiver
does encoding.
Answer:
Gen X is less educated than previous generations.
Answer:
Which of the following statements about market-oriented strategy planning is True?
A. Segmenters aim at more heterogeneous markets than combiners.
B. Both 'segmenters" and "combiners" can be target marketers.
C. All segmenters follow the single target market approach.
D. Combiners follow a mass marketing strategy.
E. None of these statements is True.
Answer:
New products that are minor variations on existing products, and which require no
change to consumer behavior, are called _____.
A. fads
B. new products
C. second movers
D. discontinuous innovation
E. continuous innovations
Answer:
Compared to conventional retailers, which of the following types of retailers added
more convenience, while reducing product assortment?
A. specialty shops
B. category killers
C. vending machines
D. mass-merchandisers
E. super warehouses
Answer:
In the American Marketing Association's Statement of Ethics, which ethical value
stresses a firm's attempts to recognize the basic human dignity of its customers?
A. Citizenship
B. Respect
C. Honesty
D. Openness
E. Responsibility
Answer:
For dieters, the highest quality potato chips are probably:
A. chips made from all natural ingredients.
B. chips with the best flavor.
C. Gourmet Cape Cod Kettle Chips.
D. chips that are low in fat and calories.
E. Lays brand potato chips.
Answer:
Channels of distribution:
A. that include intermediaries result in higher distribution costs than channels without
intermediaries.
B. should be designed to increase discrepancies of quantity between producers and
consumers.
C. usually do not involve conflicts as long as each channel member has profit as a goal.
D. usually require longer-term planning than other market mix elements because
channel decisions are more difficult to change quickly.
E. are always characterized by conflict among channel members.
Answer:
Routine completion of sales made regularly to target customers is done by:
A. an order taker.
B. a merchandiser.
C. a detailer.
D. an order getter.
E. a supporting salesperson.
Answer:
Heterogeneous shopping products:
A. need adequate representation in major shopping areas near similar products.
B. need widespread distribution near probable points of sale.
C. need enough exposure to aid price comparison.
D. need widespread distribution at low cost.
E. need widespread distribution but with assurance of preferred display or counter
position.
Answer:
Extensive problem solving probably would be required by a recent college graduate in
the purchase of:
A. living room furniture.
B. a color TV set.
C. a new home.
D. a sports car.
E. all of these are correct.
Answer:
An office manager needs office supplies, so he fills out a form indicating what he needs
and sends it to the purchasing department to be ordered. This form is usually called
A. a purchase order.
B. a requisition.
C. a vendor analysis.
D. a buying center request.
E. the start of the adoption process.
Answer:
Regarding the competitive environment:
A. It is easy to find environments that are "competitor-free."
B. Monopoly situations are more common than are situations characterized by
monopolistic competition.
C. "Competitive rivals" are a firm's closest competitors.
D. Competitor analysis should begin with an identification of competitors from the
viewpoint of the manager, not the consumer.
Answer:
Physiological needs are concerned with
A. protection and physical well-being.
B. love, friendship, status, and esteem.
C. an individual's need for personal satisfaction.
D. biological needs.
E. responsibility and independence.
Answer:
Auction sites are now popular for:
A. surplus inventory.
B. used items.
C. perishable products.
D. seasonal products.
E. all of these are now popular at auction sites.
Answer:
The marketing manager at Massimino and McCarthy, a chain of retail stores that sells
men's clothing, is reviewing marketing research data to try to determine if changes in
marketing strategy are needed. Which of the following sources of data would be a
secondary data source?
A. Looking through the company's marketing information system to see past sales
trends
B. Reviewing videotapes of a recent focus group
C. Making phone calls to some of the best customers to learn their interest in a new line
of clothing
D. Spending time in stores observing customers' behavior
E. Looking through the results of an online customer satisfaction survey
Answer:
Which one of the following is NOT a consumer product class?
A. Specialty
B. Unsought
C. Derived
D. Shopping
E. Impulse
Answer:
The major weakness of "average-cost pricing" is that:
A. it ignores likely customer demand at different prices.
B. it usually leads to losses instead of profits.
C. it always results in a profit that is less than expected.
D. it is too hard for most managers to use.
E. All of these are major weaknesses of "average-cost pricing."
Answer:
Which of the following statements about prospecting is FALSE?
A. Prospecting focuses on identifying new customers.
B. A sales rep needs to set priorities for all prospects-both old and new.
C. A sales rep must qualify potential customers.
D. CRM systems help with the process of prospecting.
E. None of these statements about prospecting is FALSE.
Answer:
Which of the following is an unethical behavior on the part of a consumer?
A. abusing policies about returning goods
B. changing price tags in self-service stores
C. being abusive to salespeople
D. shoplifting
E. all of these are examples of unethical behavior
Answer:
Identify the incorrect statement pertaining to the stages of the product life cycle.
A. The market introduction stage can be seen as investing in the future.
B. In the market growth stage, profits keep rising steadily with no sign of decline.
C. Sales level off and profits continue down in the market maturity stage.
D. The sales decline stage can be seen as a time of replacement.
E. Industry profits go down throughout the market maturity stage.
Answer:
In addition to mail, direct-response promotion may include websites, broadcast, e-mail,
and interactive media.
Answer:
The managerial process of developing and maintaining a match between the resources
of an organization and its market opportunities is called:
A. management by objective.
B. marketing programming.
C. marketing strategy planning.
D. strategic (management) planning.
E. market planning.
Answer:
Which of the following is the BEST example of a "generic market?"
A. the meat market.
B. the minivan market.
C. the e-commerce market.
D. the beer market.
E. the 'singles" entertaining market.
Answer:
"Promotion" includes:
A. advertising.
B. personal selling.
C. sales promotion.
D. publicity.
E. All of these may be included in Promotion.
Answer:
The text suggests that a "channel captain" should be:
A. a strong wholesaler.
B. a market-oriented producer.
C. a large retailer.
D. any of these-i.e. whoever can provide leadership.
Answer:
Which of the following is secondary data that is easily accessible to marketers and
generated inside their own firms?
A. Focus group surveys
B. Library research
C. Marketing information system
D. U.S. government-published data
E. Internet research
Answer:
Which of the following alternatives about telephone selling by an inside sales group is
FALSE?
A. saves time and money for the producer.
B. provides a way for the producer to get direct feedback from customers.
C. extends the personal selling effort to new target markets.
D. provides a way for the producer to find solutions to potential problems.
E. none of these alternatives is FALSE.
Answer:
Which of the following is NOT a current trend affecting marketing strategy planning?
A. growth of interactive agencies
B. shrinking media budgets
C. growth of MIS and DSS systems
D. declining use of interactive bidding and proposal requests
E. aging of the baby boomers
Answer:
A decision-making approach that focuses on being objective and orderly in testing ideas
before accepting them is the:
A. MIS method.
B. scientific method.
C. statistical method.
D. DSS method.
E. marketing models method.
Answer:
Which of the following is NOT relevant regarding why some consumers prefer one
retailer over another?
A. Location
B. Discount policies
C. Store hours
D. Number of salespeople
E. All of these choices can be relevant
Answer:
According to the text, consumer product classes:
A. are based on how consumers shop for products.
B. are interesting, but not helpful for planning marketing strategy.
C. are based on how the products will be used.
D. are based on the product features involved.
E. can be broken down into goods, services, and ideas.
Answer:
Sales-oriented pricing objectives:
A. may include market share targets as well as dollar or unit sales targets.
B. might be achieved and still result in losses.
C. are especially risky during times when a firm's costs are rising rapidly.
D. can be used by nonprofit organizations as well as for-profit ones.
E. All of these alternatives are correct.
Answer:
According to the text, a "new product" is one that is:
A. physically changed.
B. unique.
C. new in any way for the company concerned.
D. completely new physically and conceptually.
E. None of these is a good answer.
Answer:
Which of the following is NOT a trend affecting marketing strategy planning in the
Product area?
A. more attention to quality
B. slower new-product development
C. more attention to service technologies
D. research and development teams with market-driven focus
E. more attention to sustainable design
Answer:
The slowest transportation is typically by
A. rail.
B. water.
C. truck.
D. air.
Answer:
Regarding retailer store size, it is true that:
A. almost 75 percent of all retail sales are made by smaller stores-those with annual
sales less than $1 million.
B. almost 75 percent of all retail sales are made by the largest stores-those with annual
sales over $5 million a year.
C. small retailers are unimportant and can safely be ignored by most manufacturers and
wholesalers.
D. big retailers do a lot of business but they make up less than 5 percent of stores.
E. None of these alternatives is correct.
Answer:
A government agency charges motorists a toll for using a bridge. The toll is dropped
when the cost of the bridge is paid. In other words, the government's target return figure
was
A. twenty percent.
B. one.
C. ten percent.
D. hundred percent.
E. zero.
Answer:
