Which of the following statements regarding salesforce compensation plans is most
accurate?
a. The most preferred compensation plan among sales people is the straight commission
plan.
b. Nonmonetary rewards are not very effective as salesforce motivators.
c. New recruits are often more productive than seasoned professionals.
d. Ineffective practices often lead to costly salesforce turnovers.
e. The expense of training a new salesperson, including the cost of lost sales, is still
lower than having to use a salary plus commission plan.
Answer:
Starbucks Ad
According to the Starbucks ad above, what customer value strategy does Starbucks
Coffee Company provide to its customers?
a. best product/service
b. best customer service
c. best value
d. best assortment
e. best price
Answer:
If profits are acceptable, a firm that has set sales as its goal may elect to __________,
even though profitability may not be maximized.
a. advertise
b. reduce its sales force
c. maintain or increase its sales
d. decrease its sustainability efforts
e. maximize customer satisfaction
Answer:
Leona hates carrying a camera with her on vacations. If she only knew of the existence
of the ” thick Logitech pocket digital camera that easily fits in any pocket! For Leona,
the Logitech camera is a(n)
a. shopping product.
b. convenience product.
c. specialty product.
d. unsought product.
e. discretionary product.
Answer:
Five common forms of pricing include: bait and switch, bargains conditional on other
purchases, comparable value comparisons, comparisons with suggested prices, and
former price comparisons. What do all these practices have in common? They are all
a. most effective in the growth stage of the product life cycle.
b. popular techniques preferred by online businesses.
c. illegal and often difficult to prosecute.
d. most effective in business-to-business marketing.
e. effective pricing practices that professional marketers use.
Answer:
Which of the following statements about world trade flows is most accurate?
a. The United States is tied with China and Japan as the world’s leaders in exports.
b. The U.S. percentage share of world exports has shifted downwards over the past 30
years.
c. The United States has maintained a steady percentage share of world imports.
d. The United States’ relative role as an exporter has decreased in the area of aerospace
during the past five years.
e. The relative position of the United States as a supplier to the world has increased
because of an absolute growth in exports.
Answer:
Figure 1.: Question 3
Consider Figure 1.: Question 3 above, which is part of a Wendy’s survey that assessed
fast-food restaurant preferences among present and prospective consumers. Question 3
illustrates which type of question format?
a. dichotomous
b. open-ended
c. closed-end
d. attitudinal
e. semantic differential
Answer:
Higher paper costs, increased postage rates, the growing interest in do-not-mail
legislation, and concern for “green” mailings have resulted in
a. a switch to online catalogs and direct customer e-mail advertisements.
b. the use of thinner, lightweight paper products.
c. a focus on proven customers rather than on prospective customers.
d. the banning of “junk” mail by a growing number of environmentally-concerned
communities.
e. a resurgence in non-automated telemarketing.
Answer:
The segmentation strategy used by Prince Sports today is
a. geographic.
b. behavioral.
c. psychographic.
d. socioeconomic.
e. resource-based.
Answer:
Product positioning refers to
a. an outdated concept that assigns product value by association with social class.
b. the place a product offering occupies in consumers’ minds on important attributes.
c. the competitive advantage of one product over another.
d. changing the place a product occupies in a consumer’s mind relative to competitive
products.
e. using a market-product grid to place products in their appropriate places on that grid
to identify potential untapped markets.
Answer:
When the Federal Aviation Administration (FAA) purchases radars for 22 major air
traffic control centers in the U.S., it is operating as a(n)
a. government unit.
b. industrial market.
c. business market.
d. consumer market.
e. service provider.
Answer:
Which method of classifying retail outlets would be most appropriate for describing
franchise operations?
a. form of ownership
b. level of service
c. merchandise line
d. method of operation
e. revenues generated
Answer:
A firm’s profit potential and control over marketing activities increases as it moves from
exporting to direct investment as a global market-entry strategy. But so does the firm’s
a. likelihood of long-term success.
b. financial commitment and risk.
c. vulnerability to political changes and doctrines.
d. need for a more educated workforce.
e. need for a larger workforce.
Answer:
You probably own several pairs of shoes. Further, it is highly likely you purchased
those shoes at retail stores located in a shopping mall and not directly from the
manufacturer. In fact, most products are brought to you via a __________, which
consists of individuals and firms involved in the process of making a product or service
available for use or consumption by consumers or industrial users.
a. marketing intermediary
b. distribution hierarchy
c. marketing chain of command
d. distribution matrix
e. marketing channel
Answer:
Annual __________ are documents that deal with the marketing goals and strategies for
a product, product line, or entire firm for a single year.
a. production estimates
b. sales forecasts
c. budget projections
d. marketing plans
e. tactical forecasts
Answer:
Studies of the __________ characteristics of the U.S. population suggest that it is
becoming larger, older, and more diverse.
a. cultural
b. psychographic
c. geographic
d. demographic
e. economic
Answer:
Facts and figures that are newly collected for a project at hand are referred to as
a. statistical data.
b. empirical data.
c. secondary data.
d. primary data.
e. inferential data.
Answer:
Those needs which are basic to survival and which must be satisfied first are referred to
as
a. physiological needs.
b. safety needs.
c. social needs.
d. personal needs.
e. self-actualization needs.
Answer:
Figure 1.
According to Figure 1. above, Facebook had slightly over __________ unique U.S.
visitors per day by September 2011.
a. 20 million
b. 30 million
c. 70 million
d. 150 million
e. 800 million
Answer:
There are five dimensions to emotional intelligence: self-motivation; self-awareness;
__________: empathy; and social skills.
a. the ability to read body language
b. sense of humor
c. the ability to be positive
d. the ability to manage one’s emotions and impulses
e. a need to be in control
Answer:
All of the following are challenges that Groupon faces EXCEPT:
a. The goal of Groupon and its business partners is to have Groupon users become
repeat purchasers.
b. Groupon faces an extraordinary level of competition because the daily deal
technology is easy to copy.
c. Most of the Groupon deals are profitable for the merchants because their profitability
is based on volume sales and not the profit margin of a single sale.
d. Some consumers buy the coupons but never use them, eventually leaving them
dissatisfied and unlikely to use Groupon again.
e. Groupon must develop a comprehensive understanding of the differences in
international buying behaviors to continue its explosive growth outside the United
States.
Answer:
You have been asked to calculate the break-even point for a new line of souvenir
T-shirts. The selling price will be $25 per shirt. The labor cost is $5 per shirt. The
administrative costs of operating the company are estimated to be $60,000 annually and
the sales and marketing expenses are $20,000 a year. Additionally, the cost of materials
will be $10 per shirt. What is the break-even quantity?
a. 2,000 shirts
b. 3,200 shirts
c. 5,334 shirts
d. 8,000 shirts
e. 16,000 shirts
Answer:
The primary purpose of a doppelganger is to
a. make people laugh, which subconsciously makes them desire the real product.
b. undermine the integrity of an existing brand.
c. make the brand generic.
d. increase productivity of advertising.
e. protect trademark infringement by competing firms in the same industry.
Answer:
Changing the place a product occupies in a consumer’s mind relative to competitive
products is referred to as __________.
a. market modification
b. product modification
c. product repositioning
d. product positioning
e. perceptual mapping
Answer:
A recent Pew Internet and American Life Project poll reported that __________ percent
of online consumers have privacy and security concerns about the Internet.
a. 15
b. 20
c. 35
d. 55
e. 76
Answer:
Monster.com is a leading online job-hunting website. A person looking for a new job
does not have to look at every listing on the website. Instead, he or she can type in a job
description and Monster.com will find all the matching jobs plus continue the search
and e-mail any new relevant listings. Monster.com uses consumer-initiated
__________.
a. choiceboards
b. personalization
c. collaborative filters
d. individualization
e. permission marketing
Answer:
Which of the following statements about the four basic business and management
practices that Nohria, Joyce, and Roberson identified is most accurate?
a. Strategy and structure are more important for success than culture and execution.
b. Culture and execution are more important for success than strategy and structure.
c. In order for a company to be successful, it must use all four strategies.
d. In terms of individual tools and techniques, the tool itself is less important than
flawless execution of the ones the company uses.
e. No strategy can work unless every stakeholder buys into it one hundred percent.
Answer:
When the elementary teacher needed to buy poster board for her class, she remembered
that she had previously found some poster board at her local 99 Only, Walgreen’s, and
Family Dollar stores. What term best describes the information search method used by
the teacher?
a. personal external source
b. public external source
c. market-dominated external source
d. internal search
e. market-dominated internal source
Answer:
Making recommendations, implementing those recommendations, and evaluating the
results would take place during which stage of the five-step marketing research
approach?
a. collect relevant information
b. develop the research plan
c. develop findings
d. take marketing actions
e. define the problem
Answer:
The U.S. Patent and Trademark Office website allows you to __________.
a. see if a brand or trade name has been registered
b. view the list of brand franchises approved
c. view the status of trademark infringement lawsuits
d. copyright a book without having to use a lawyer
e. buy unused trademarks
Answer:
The central element of the marketing strategy for Pez Candy, Inc., is the __________.
a. price
b. breath mint
c. availability
d. container
e. fulfillment
Answer:
Volvo of North America delivered automobiles to the Siberian police force when
Siberia had no cash to pay for them. It accepted payment in oil, which it then sold for
cash to pay for media advertising in the United States. This is an example of
a. a quota.
b. countertrade.
c. balance of trade.
d. competitive advantage.
e. a trade feedback effect.
Answer:
Yield management pricing is a form of
a. target pricing.
b. loss-leader pricing.
c. dynamic pricing.
d. customary pricing.
e. price lining.
Answer:
High-quality TV commercials typically cost about $323,000 to produce a __________
ad
a. 30-second
b. 45-second
c. 60-second
d. 90-second
e. 120-second
Answer: