Which of the following is an internal source for new product ideas?
A) competitors
B) company executives
C) marketing research firms
D) trade magazines
E) government agencies
Answer:
In which of the following geographic pricing strategies would customers located close
to the company pay the same amount as customers in distant locations?
A) uniform-delivered pricing
B) zone pricing
C) FOB-origin pricing
D) location-based pricing
E) reference pricing
Answer:
In the marketing mix, place includes ________.
A) logistics
B) discounts
C) sales promotion
D) advertising
E) packaging
Answer:
While using integrated marketing communications, the communications process should
start with a(n) ________.
A) advertising strategy
B) competitive-parity analysis
C) long-term public relations plan
D) audit of all potential customer touch points
E) strategy for implementing a social media presence
Answer:
Which of the following statements is most likely true about radio as an advertising
medium?
A) Radio advertising is typically quite expensive.
B) Radio ensures good attention from the target audience.
C) Radio offers very low audience selectivity.
D) Radio prohibits the use of segmentation strategies.
E) Radio advertising is characterized by good local acceptance.
Answer:
________ refers to purchasing through electronic connections between buyers and
sellersusually online.
A) E-procurement
B) General need specification
C) Strategic sourcing
D) Proposal solicitation
E) Value chain management
Answer:
A small, open-air mall with upscale stores, convenient locations, and nonretail
activities, such as a playground, skating rink, hotel, dining establishments, and a movie
theater, is an example of a(n) ________.
A) regional shopping center
B) lifestyle center
C) community shopping center
D) franchise
E) power center
Answer:
Which of the following is an element of the marketing mix?
A) place
B) education
C) needs
D) wants
E) esteem
Answer:
Jason Perkins has the informal power to approve the final suppliers in his organization.
In other words, Jason plays the role of a(n) ________ in his organization’s buying
center.
A) gatekeeper
B) decider
C) buyer
D) influencer
E) user
Answer:
Jaime Gonzalez owns a small publishing company in Utah and has a very restrictive
budget for the market research he currently needs to conduct. He requires a large
sample size for his research in order to arrive at insightful conclusions. Additionally, he
wants to have excellent control over his sample. Keeping in mind his restrictive budget
and other specifications, which of the following methods of contact would you advise
Jaime to use?
A) telephone interviews
B) individual interviews
C) online surveys
D) mail questionnaires
E) focus group interviews
Answer:
The term supply chain is considered limited because it ________.
A) ignores the make-and-sell aspect of the market
B) suggests that planning begins with raw materials and factory capacity
C) takes a step-by-step, linear view of purchase-production-consumption activities
D) takes a sense-and-respond view of the market
E) suggests that planning starts with identifying the needs of target customers
Answer:
Refer to the scenario below to answer the following question(s).
Reliable Tools Company is a manufacturer of hubs and axles for the trailer and heavy
truck industry. Although Reliable Tools only has 15 customers, the company is the sole
supplier of hub and axle components to those customers. Monthly sales at Reliable
Tools are approximately $1 million. “You might say we have all our eggs in one
basket,” says owner Arthur Deetz.
It is critical that a competent sales force be maintained in order to nurture those few but
large accounts. Ninety-five percent of Reliable Tools’ customers are located in
Michigan, Ohio, and Indiana, which means that travel time to all customers is relatively
short. However, given the nature of the industry, time spent with each customer is
crucial.
Which of the following promotions would be most appropriate for Reliable Tools to use
in its attempt to promote its products and generate new business leads?
A) rebates and price packs
B) premiums
C) specialty advertising
D) samples
E) conventions and trade shows
Answer:
Kei, a senior marketing manager of a pizzeria in North Florida, is currently researching
electronic collections of consumer information within the company network to arrive at
crucial marketing decisions. In this instance, Kei is using ________.
A) ethnographic research
B) internal databases
C) descriptive research
D) data warehouses
E) causal research
Answer:
Which of the following is true of price changes?
A) Over-demand leads to companies initiating price cuts.
B) Changes in price do not affect a brand’s image.
C) Customer reaction to price changes is not as important as competitor reaction.
D) A drop in price can adversely affect how consumers view the brand.
E) Excess capacity is a factor that causes increases in price.
Answer:
________ have filled the ultra low-price, high-volume gap by buying at
less-than-regular wholesale prices and charging consumers less than retail.
A) Off-price retailers
B) Specialty stores
C) Convenience stores
D) Chain stores
E) Supercenters
Answer:
Maria works for Sigma Inc., a firm that helps companies target and promote their
products to the right markets. Sigma is most likely a ________.
A) financial intermediary
B) physical distribution firm
C) marketing services agency
D) reseller
E) wholesaler
Answer:
A(n) ________ serves to limit the amount of foreign exchange and the exchange rate
against other currencies.
A) exchange premium
B) free trade zone
C) quota
D) exchange control
E) tariff trade barrier
Answer:
________, a form of observational research, involves sending observers to watch and
interact with consumers in their natural environments.
A) Group interviewing
B) Ethnographic research
C) Survey research
D) Experimental research
E) Causal research
Answer:
The Jay Group hires better employees than its competition by conducting effective
searches and multi-tiered interviews. The company also provides high quality training
to its employees, an aspect often neglected by competitors. The Jay Group is most
likely to gain a strong competitive advantage through which type of differentiation?
A) image differentiation
B) people differentiation
C) services differentiation
D) product differentiation
E) channel differentiation
Answer:
Companies that have been in existence for some time often lose the marketing creativity
and passion that they had at the start. They often need to refresh their marketing
strategies and try new approaches, known as ________.
A) multi-level marketing
B) formulated marketing
C) ambush marketing
D) intrepreneurial marketing
E) affinity marketing
Answer:
Which group includes neighborhood residents and community organizations?
A) local publics
B) government publics
C) internal publics
D) citizen-action publics
E) media publics
Answer:
Bailey’s Burgers promotes the Bailey’s Jumbo Burger as a fun snack for teens and
young adults. In this instance, Bailey’s Burgers is practicing ________ segmentation.
A) benefit
B) age and life-cycle
C) psychographic
D) geographic
E) gender
Answer:
________ occurs when a company lengthens its product line beyond its current range.
A) Product line filling
B) Product line stretching
C) Co-branding
D) Niche marketing
E) Market diversification
Answer:
Sellers might accept a(n) ________, one whose removal from the country is restricted
by the buyer’s government, if they can buy other goods in that country that they need
themselves or can sell elsewhere for a needed currency.
A) blocked currency
B) countervailing duty
C) custom duty
D) anti-dumping duty
E) tariff
Answer:
________ is the process of comparing the company’s products and processes to those of
competitors or leading firms in other industries to find ways to improve quality and
performance.
A) Segmenting
B) Positioning
C) Sales promotion
D) Benchmarking
E) Publicity
Answer:
Akira Takano, a marketing manager, is about to test the hypothesis that the sale of a
particular product will increase exponentially if there is a $5 drop in the selling price of
the product. Akira is involved in ________ research.
A) exploratory
B) descriptive
C) causal
D) constructive
E) ethnographic
Answer:
Which of the following is true with regard to problems faced by international
researchers?
A) Translation of questionnaires increases research costs and risks of error.
B) Erratic purchasing patterns limit data reliability and validity.
C) More often than not, cultural differences enrich research findings.
D) Diverse markets always yield conflicting data.
E) The primary data obtained by international researchers are almost always error
prone.
Answer:
Carrie tends to purchase various brands of bath soap. She has never been loyal to a
specific brand; instead she does a lot of brand switching. Carrie exhibits ________.
A) dissonance-reducing buying behavior
B) complex buying behavior
C) habitual buying behavior
D) variety-seeking buying behavior
E) conspicuous consumption behavior
Answer:
Consumer information provider Nielsen uses a life-stage segmentation system that
places U.S. households into one of 66 different life-stage groups. According to Nielsen’s
groups, which of the following refers to the group consisting of hip, single
twenty-somethings who are politically liberal, listen to alternative music, and enjoy
lively nightlife?
A) Striving Singles
B) Young Achievers
C) Bohemian Mix
D) Young Influentials
E) Young Digerati
Answer:
The principle of ________ requires that the company continuously seek real product
and marketing improvements.
A) consumer-oriented marketing
B) innovative marketing
C) customer-value marketing
D) sense-of-mission customer-value marketing
E) ambush marketing
Answer:
________ distribution involves the use of more than one but fewer than all of the
intermediaries who are willing to carry a company’s products.
A) Exclusive
B) Selective
C) Intensive
D) Indirect
E) Corporate
Answer:
In a SWOT analysis, which of the following would be considered a strength?
A) industry trends
B) technological shifts
C) environmental demands
D) performance challenges
E) internal capabilities
Answer: