Market segments refer to
A. the relatively heterogeneous groups of prospective buyers that result from the market
segmentation process.
B. all buyers of a product or service who have previously purchased a particular firm’s
products or services and who intend to repeat that purchase sometime in the future.
C. the smallest number of buyers that have similar needs but do not react similarly in a
buying situation.
D. the relatively homogenous groups of prospective buyers that result from the market
segmentation process.
E. all potential buyers of a product or service who intend to purchase a firm’s products
or services but who have not yet done so.
Answer:
A memorized, standardized message conveyed to every prospect is referred to as a
__________.
A. stimulus-response presentation
B. canned sales presentation
C. directed selling presentation
D. mnemonic sales format
E. standardized sales format
Answer:
During the introduction stage of the product life cycle, the place (distribution) element
of the marketing mix is highly involved with __________.
A. increasing inventory levels at warehouses and distribution centers to meet potential
demand
B. gaining distribution, even though many channel intermediaries will be reluctant to
carry a new product
C. using an intermodal logistics system to get the products through the marketing
channel as quickly as possible
D. building storage warehouses and distribution centers to establish an efficient
infrastructure for the new product
E. obtaining contracts with independent sales agents and brokers instead of using the
firm’s salesforce
Answer:
Almost all countries have some division of social class (upper, middle, and lower). The
determining factor for the assignment to one of these classes may differ from country to
country. For example, in the United States, the primary determining factor is
occupation; in India, it is birthright; in China, it is geographical region and education;
and in Singapore, it is income. These differences are best explained in terms of a
country’s
A. semiotics.
B. legal system.
C. ethnocentricity.
D. religion.
E. values.
Answer:
Because of the intangible nature of services, consumers often perceive price as a
possible indicator of the __________ of the service.
A. profit or ROI
B. customer value
C. quality
D. target market
E. cost
Answer:
Reinforcement ads are reminder ads that
A. assure current users they made the correct choice in choosing the product.
B. reinforce previous knowledge of a product.
C. repeat ad campaigns that have been used before in order to remind consumers of
how good the ads were.
D. reaffirm a company’s position on an issue of importance or interest.
E. reassure the company it has made the right choice in advertising the product.
Answer:
Supply chain managers balance total logistics cost factors against customer service
factors. Customer service factors include
A. reliability, flexibility, consistency, and dependability.
B. time, dependability, communication, and convenience.
C. consistency, responsiveness, durability, and communication.
D. time, assurance, responsiveness, and dependability.
E. convenience, flexibility, time, and value.
Answer:
There are a lot of skateboards on the market, but the BMW Streetcarver is the only one
with stabilizers and wheel design based on BMW’s automobiles. This technology gives
the BMW Streetcarver better control at high speeds and around sharp turns than any
other brand. The skateboard is priced at $495, which leaves many consumers who
might want to buy the Streetcarver (especially young males) unable to afford it. This
inability to pay for the high-priced BMW-made skateboard shows the affect of
__________ on sales.
A. demand factors
B. macroeconomic environmental factors
C. barter factors
D. supply factors
E. exchange parameters
Answer:
Culture refers to
A. the set of values, ideas, and attitudes that are learned and shared among members of
a group.
B. the music, art, theater, etc. that reflects the values of an entire nation.
C. the learned behaviors of a specific racial, ethnic, or religious group based on
commonly shared ethical principles and protected by laws.
D. the combination of beliefs and behaviors accepted as correct regardless of a person’s
age, sex, race, or religion.
E. the set of values, ideas, attitudes, and norms of behavior that is learned and shared
among the members of an organization.
Answer:
All of the following statements are true EXCEPT:
A. LEED stands for Leadership in Energy and Environmental Design.
B. today’s college graduates now seek green jobs that involve some aspect of social
responsibility.
C. colleges of business have yet to establish sustainability course electives, case studies,
or links to organizations that expose students to socially responsibility concepts and
initiatives.
D. many students want to be involved with organizations like Net Impact to use
business to improve the world.
E. millennials want to make a difference by making the world a better place.
Answer:
Five situational influences have an impact on a consumer’s purchase decision process.
They are: purchase task, social surroundings, __________, temporal effects, and
antecedent states.
A. competitive offerings
B. physical surroundings
C. core values
D. motivation
E. economic effects
Answer:
Test marketing involves offering a product for sale
A. to random sample of people in the top ten major cities of the U.S.
B. in as broad a geographic region as possible.
C. to consumers that are representative of the target market.
D. on a limited basis in a defined area.
E. only on certain days of the week and hours of the day.
Answer:
Another name for cold calling is
A. cold canvassing.
B. telemarketing.
C. merchant campaigning.
D. sales managed selling.
E. trial close selling.
Answer:
The sum of the expenses of a firm that is stable and does not change with the quantity
of the product that is produced and sold is referred to as
A. fixed cost.
B. total cost.
C. variable cost.
D. marginal cost.
E. overhead cost.
Answer:
Some studies show that __________ are superior to other advertising strategies.
A. flighting schedules
B. continuous schedules
C. opportunistic schedules
D. pulsing schedules
E. intermittent schedules
Answer:
The most sophisticated form of pretest is the __________.
A. portfolio test
B. sales test
C. attitude test
D. theater test
E. jury test
Answer:
Tylenol successfully used __________ with the introduction of groups of products,
each with their own name and dedicated to particular symptoms, such as Tylenol
Arthritis, Tylenol Sinus and Allergy, Tylenol Cold and Flu, and Tylenol Pain and
Sleeplessness.
A. multibranding
B. private branding
C. subbranding
D. mixed branding
E. brand extensions
Answer:
Kraft produces Lunchables, a prepackaged meal usually consisting of several crackers,
small slices of meat, and small slices of cheese. Other items in the product line contain
small bottles of Chiquita Strawberry Banana Fruit smoothie, Capri-Sun juice, or
Kool-Aid. The box is bright yellow and the quantity of food contained within it is
small. The target market for Kraft Lunchables is most likely:
A. moms with school-age children who pack a simple healthy lunch for them.
B. business people looking for a fulfilling breakfast at the office.
C. business travelers on the run.
D. teenagers who are hungry for an after-school snack.
E. baby boomers who are trying to lose weight.
Answer:
Price deals that mislead consumers fall into the category of
A. predatory pricing.
B. deceptive pricing.
C. price discrimination.
D. caveat emptor.
E. resale price maintenance.
Answer:
Frequently used Facebook measures include __________ (the number of people who
have opted in to a brand’s messages at a given time) and __________ (if someone visits
five times in one day, he or she is counted once).
A. followers; fans
B. unique fans; visitors
C. fans; unique visitors
D. fans; unique page views
E. visitors; unique visitors
Answer:
Selective retention is most likely to occur during which stage of the consumer purchase
decision process?
A. information search
B. purchase decision
C. alternative evaluation
D. postpurchase behavior
E. problem recognition
Answer:
The fourth stage in the hierarchy of effects is __________.
A. interest
B. awareness
C. adoption
D. trial
E. evaluation
Answer:
Product modification refers to a marketing strategy that __________.
A. alters a product’s characteristic, such as its quality, performance, or appearance, to
increase its value to customers and to increase sales
B. manages a product’s life cycle to increase its use among existing customers, create
new use situations, or find new customers
C. tries to find new customers and convince users who abandoned it to purchase again
D. drops the lowest producing market segment and replaces it with an entirely new one
E. combines the lowest producing market segment into others to achieve marketing
economies of scale
Answer:
What percentage of a sales representative’s time is spent selling?
A. 32 percent
B. 41 percent
C. 48 percent
D. 53 percent
E. 55 percent
Answer:
Which of the following is an example of time utility?
A. an iPhone with a “multitouch” user interface for easy navigation
B. Goodwill that has a 24-hour drop off box for clothing donations
C. a dry cleaners that is located inside a supermarket
D. a mobile phone company that offers six-month financing, same as cash
E. a new herbal supplement that offers a 30-day free trial
Answer:
Lead generation refers to
A. the result of offers that contain all the information necessary for a prospective buyer
to make a decision to purchase and complete the transaction.
B. direct telephone communication only with consumers to generate a response in the
form of an order, a request for further information, or a visit to a retail outlet.
C. products that are shipped directly to the point of purchase rather than being stored or
distributed through intermediaries.
D. the outcome of an offer designed to motivate people to visit a business.
E. the result of a direct marketing offer designed to generate interest in a product or
service and a request for additional information.
Answer:
Describe the communications process of both traditional media and social media.
Answer:
A need-satisfaction presentation refers to a presentation format that
A. uses computer, information, communication, and Internet technologies to make the
sales presentation more effectively and efficiently.
B. consists of information that must be provided in an accurate, thorough, and
step-by-step manner to inform the prospect.
C. assumes that given the appropriate stimulus by a salesperson, the prospect will buy.
D. emphasizes probing and listening by the salesperson to identify needs and interests
of prospective buyers.
E. builds ties to customers based on a salesperson’s attention and commitment to
customer needs.
Answer:
Social responsibility refers to
A. a personal moral philosophy that focuses on the greatest good for the greatest
number by assessing the costs and benefits of the consequences of ethical behavior.
B. a democratic consensus of moral principles and laws that govern the behavior of
individuals based on legislation adopted at the federal, state, and local levels.
C. a societal moral philosophy based on the Golden Rule of the Judeo-Christian ethic
found in the U.S. Constitution’s Bill of Rights.
D. the view that organizations are part of a larger society and are accountable to that
society for their actions.
E. a personal moral philosophy that considers individual rights or duties as universal,
regardless of the outcome.
Answer:
The value to consumers that comes from having the offering available where consumers
need it constitutes __________ utility.
A. time
B. place
C. possession
D. market
E. form
Answer:
Although Russia now has a free economy, there are still some problems with its
financial and legal systems as well as with the notion of
A. private property.
B. product promotion.
C. paid advertising.
D. community property.
E. foreign exchange rates.
Answer:
Which of the following statements about advertising is most accurate?
A. Advertising has limited control as to when and where an advertisement will be used.
B. Advertising allows a firm to reach a mass market.
C. A key advantage of advertising is its ability to use customized interactions.
D. Advertising can be a very effective attention getter for new products, but has little
impact for repeat buys.
E. Advertising is one of the least costly forms of promotion because it reaches a
pretested market.
Answer:
A brand marketed under the same name in multiple countries with similar and centrally
coordinated marketing programs is referred to as a(n)
A. transnational brand.
B. international brand.
C. multinational brand.
D. global brand.
E. meganational brand.
Answer:
In the VALS framework, consumers with the least resources of any segment represent a
modest market for most products and services, and are loyal to favorite brands,
especially if they can be purchased at a discount are referred to as __________.
A. Strivers
B. Believers
C. Survivors
D. Makers
E. Thinkers
Answer:
The brochure for Spa Sydell has photographs of people enjoying the various spa
amenities. By seeing the pictures of available treatments at the spa, a customer has a
better idea of what she is buying. Spa Sydell uses a brochure to help customers deal
with the __________ that is associated with using the service.
A. incongruity
B. inconsistency
C. inventory costs
D. inseparability
E. intangibility
Answer: