Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
An advantage of using focus groups to conduct market research is that:
A. they are flexible to use in a marketing study.
B. they do not require expert moderators.
C. they have a broad geographic dispersion.
D. they prevent moderator bias.
Answer:
Marketers who seek to accomplish the strategic goals of marketing communications
are:
A. less likely to build relationships with their organizations' channel members.
B. more likely to focus on generating awareness of their existing products rather than
their new products.
C. more likely to build positive images for their brands and add meaning to their
products.
D. less likely to use modern technology to stay close to their customers and identify
prospects.
Answer:
Which of the following is a promotional activity aimed at a company's own sales
force?
A. Price deals
B. Samples
C. Coupons
D. Bonuses
Answer:
A gas station in South Ventalia charges $4.99 instead of $5.00 for regular gas and $9.99
instead of $10.00 for premium gas to encourage its customers to believe that its prices
are low. This is an example of _____ pricing.
A. prestige
B. bundle
C. markup
D. odd-even
Answer:
Which of the following is the first step of information processing?
A. Retention of information
B. Attention to information
C. Understanding of information
D. Exposure to information
Answer:
A manufacturer of bathtubs analyzes the relationship between its sales and the number
of new houses being built in a particular region in order to forecast bathtub sales in that
region. This type of forecasting is an example of:
A. time-series analysis.
B. sales force composite method.
C. customer expectations method.
Answer:
An entrepreneur has developed a self-service soda-bottling machine. Customers can fill
their own plastic soda bottles with 18 regular and diet flavors. In order to decide where
to locate the machines, the entrepreneur conducts research to study the market and
groups people into segments based on the research findings. This is an example of the
_____ segmentation approach.
A. psychographic
B. a priori
C. mass market
D. post hoc
Answer:
In the context of product management, value refers to the:
A. tangible aspects of a firm's product or service.
B. quality of a product, and not its price.
C. amount of money spent in producing a product.
D. returns a customer gets in exchange for what the customer pays.
Answer:
Which of the following is true of horizontal markets?
A. These markets offer only specialty goods so that consumers will make a special
effort to buy them.
B. These markets offer certain products that have a limited number of buyers.
C. These markets offer goods that are purchased by all types of firms in many different
industries.
D. These markets include only those convenience goods that are purchased frequently
and with minimum effort.
Answer:
If the product of a firm is a new complex technology that requires a great deal of
explanation, the promotional mix will likely focus heavily on _____ so that potential
buyers can have their questions answered.
A. public relations
B. sales promotion
C. advertising
D. personal selling
Answer:
Xapple Inc., a manufacturer of bottled lemonade and other beverages, has released a
new, zero-calorie drink called Diet Lemonade. This is an example of _____.
A. new-to-the-world products
B. new-to-the-firm products
C. additions to existing product lines
D. product repositionings
Answer:
Merchants that are primarily engaged in buying, taking title to, usually storing and
physically handling goods in large quantities, and reselling the goods to retailers or to
industrial or business users are called _____.
A. agents
B. franchisors
C. wholesalers
D. vendors
Answer:
A manufacturer utilizing an exclusive form of distribution coverage:
A. manufactures products that are characterized by low unit value and high frequency
of purchase.
B. attempts to gain exposure through as many wholesalers and retailers as possible.
C. severely limits distribution and intermediaries are provided exclusive rights within a
territory.
D. limits the use of intermediaries to the ones believed to be the best available in the
geographic area.
Answer:
An organization's routine purchase changes when a supplier discontinues a product. In
such a situation, which purchasing approach would the organizational buyer be most
likely to use?
A. Straight rebuy
B. Modified rebuy
C. New task rebuy
D. Straight task buy
Answer:
Alan visits a shopping mall in his neighborhood. He recollects his lessons from a
marketing class and attempts to relate them to his observations at the mall. Which of
Alan's interpretations is most accurate?
A. Alan believes that Tie World, a shop that exclusively sells ties, has a wide product
mix.
B. Alan believes that The Corner Store, a shop that sells everything from baby rattles
and potting soil to contact lens cleaning solution, has a narrow product mix and deep
product lines.
C. Alan believes that The Giga-store, a shop that sells hundreds of self-help books,
novels, and religious-themed music CDs, has a narrow and shallow product mix.
D. Alan believes that Ming's Corner, a shop that sells thirty-six different kinds of
muffins, has a narrow and deep product mix.
Answer:
An organization faces an unfamiliar buying situation when its regular supplier suddenly
hikes the prices of its supplies. It considers a limited number of suppliers and finalizes a
long-term contract with one of the suppliers. In this case, the organization is most likely
to use a _____.
A. straight rebuy
B. new task purchase
C. modified rebuy
D. just-in-time purchase
Answer:
A company that manufactures LED lights is planning a long-term price change for its
line of decorative table lamps. Which of the following is a psychological factor that the
company is most likely to consider when making pricing decisions?
A. The location of potential buyers
B. The number of potential buyers
C. The economic strength of potential buyers
D. The prestige orientation of potential buyers
Answer:
Which of the following statements is true of time to market?
A. Companies that shorten their products' time to market can create a competitive
advantage.
B. Companies need to follow a centralized work schedule and monitoring for achieving
a successful time to market.
C. Successful time-based innovations are attributed to the use of long production runs.
D. It primarily calculates the elapsed time between test marketing and
commercialization.
Answer:
One of the offensive goals multinational firms seek to achieve when investing in other
countries is to:
A. take advantage of economies of scale.
B. compete with foreign firms on their own turf instead of in the United States.
C. take advantage of significant differences in operating costs between countries.
D. preempt competitors' global moves.
Answer:
Which of the following is true of a global corporation?
A. It emphasizes cultural differences across countries.
B. It standardizes marketing activities when there are cultural similarities.
C. It views each nation as an entirely different market.
D. It pursues different strategies in each of its foreign markets.
Answer:
