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At the most basic level of environmental sustainability, a company can practice
________.
A) pollution prevention
B) product stewardship
C) beyond greening activities
D) new clean technology
E) sustainability vision
Which of the following is the first step in the personal selling process?
A) handling objections
B) follow-up
C) presentation and demonstration
D) preapproach
E) prospecting and qualifying
A Spanish-language channel runs its ads only in Hispanic neighborhoods. This is an
example of ________.
A) broadcasting
B) buzz marketing
C) narrowcasting
D) media multitasking
E) personal selling
Which of the following helps companies in setting sales force size?
A) workload approach
B) pull strategy
C) push strategy
D) top-down approach
E) bottom-up approach
The customers of Parry's Hair Salon have noticed that the quality of a haircut depends
on who provides it as well as when, where, and how the service is provided. Which of
the following characteristics of service is evident in this instance?
A) service intangibility
B) service inseparability
C) service perishability
D) service variability
E) service distinction
Mark's Markers, a manufacturer of white board markers, has required its dealers to
charge a specified retail price for its markers. Mark's is most likely guilty of ________.
A) captive pricing
B) retail price maintenance
C) price discrimination
D) competitive pricing
E) unfair price skimming
An attractive product idea must be developed into a ________.
A) concept alternative
B) product concept
C) brand personality
D) brand placement
E) product strategy
Refer to the scenario below to answer the following question.
Jason West, owner of A1 Cleaning, started his enterprise in 2001. Jason's primary focus
had been on office cleaning for large corporations. But in recent months, Jason has seen
a decline in demand for his office cleaning services. Surprisingly, the competitive
environment appeared relatively stable with no new competitors. However, Jason knew
that office cleaning was a high-frequency service that is usually performed daily;
therefore, competitors must have been doing something to attract his customers.
Building a competitive advantage seemed to be the only option to offset competition.
But as Jason pondered over his dilemma, he realized that prior to building his
competitive advantage he needed to better understand how customers assessed service
quality and what they look for in a superior cleaning service.
Jason developed a research plan. First, he gathered information about his competitors,
primarily through pamphlets and Web sites, as well as through a few phone calls in
order to find out exactly what the competitors offered in their cleaning packages. In
addition, Jason obtained from the Chamber of Commerce an updated list of local
corporations. He planned on sending written questionnaires to them.
Though the list of corporations contained 141 local company names, Jason chose to
survey 75 of them. To better understand customer service expectations between both
small and large corporations, Jason divided his surveys into two categories. The survey
questions were designed to extract specific data from respondents with regard to service
quality expectations in correlation to service frequency and price.
Jason awaited the results. Though his primary focus had been on large corporations, he
was flexible and would aim his efforts differently if needed.
Of the 141 companies on the list, Jason chose to survey only 75 of them. He sent
surveys to both small as well as large companies. If Jason selected survey recipients
randomly from two mutually exclusive groups comprising of small and large companies
respectively, he most likely used a ________.
A) simple random sample
B) judgment sample
C) convenience sample
D) stratified random sample
E) quota sample
Which of the following statements is true of cultural factors that influence consumer
behavior?
A) Cultural influences on buying behavior are identical across countries.
B) Social classes show distinct product and brand preferences in areas such as clothing
and travel.
C) Subcultures include nationalities and racial groups, but exclude religions.
D) Subcultures are groups within which each individual has a unique and distinct value
system.
E) Hispanic Americans and African Americans are examples of racially-segregated
groups and not subcultures.
Bicycle helmets have low immediate appeal, but they tend to benefit consumers in the
long run. This indicates that a bicycle helmet is an example of a ________ product.
A) salutary
B) desirable
C) pleasing
D) durable
E) aesthetic
Which of the following types of marketing involves sending out letters, brochures,
samples, and DVDs to consumers' addresses?
A) direct-response marketing
B) direct-mail marketing
C) direct digital marketing
D) kiosk marketing
E) online marketing
Which of the following is true of market-penetration pricing?
A) It should be used when the product's quality and image support a high price.
B) It involves setting a high price for a new product to appeal to the elite in society.
C) It results in drawing in large numbers of buyers quickly, winning a large market
share.
D) It is best used in conjunction with a market-skimming pricing strategy.
E) It results in the company making fewer and less profitable sales.
Effective ________ pricing involves understanding how much value consumers place
on the benefits they receive from the product and setting a price that captures that value.
A) competition-oriented
B) cost-based
C) time-based
D) customer-oriented
E) marketer-oriented
In the communication process, the reaction of the receiver after being exposed to a
message is called the ________.
A) response
B) disturbance
C) noise
D) code
E) distortion
Today, several companies are adopting the concept of ________, which carefully
combines and coordinates the company's many communication channels to deliver a
clear, consistent, and compelling message about the organization and its brands.
A) integrated marketing communications
B) pull strategy
C) vertical diversification
D) nonpersonal communication channels
E) buzz marketing
Consumer advocates call for additional consumer rights, including ________.
A) the right to be protected from unwanted marketing messages
B) the right to be well informed about important product aspects
C) the right not to pay any taxes included in the final price
D) the right to resell the product
E) the right to exchange the product if it is of the wrong size or style
In the context of a company's marketing mix, ________ includes company activities
that make the product available to target consumers.
A) position
B) place
C) price
D) promotion
E) branding
As a consequence of the green movement, many companies are developing strategies
and practices that support ________.
A) government intervention
B) environmental sustainability
C) deregulation
D) mass marketing
E) rapid exploitation of natural resources
Business markets are similar to consumer markets in that ________.
A) the nature of the buying unit is the same for both
B) the decision processes involved in both the markets are same
C) both involve people who assume buying roles and make purchase decisions to
satisfy needs
D) both share the same market structure
E) the types of decisions are fairly consistent in both the markets
Acquisition refers to ________.
A) the buying of a whole company, a patent, or a license to produce someone else's
product
B) an agreement between two or more commercial companies to produce a common
product
C) a partnership between two companies to produce a product in different countries by
sharing risks
D) investments made in a country's businesses by foreign citizens, often in the form of
stocks
E) the development of original products, product improvements, product modifications,
and new brands through the firm's own product development strategies
Which of the following is a traditional sellers' right?
A) the right to create a monopoly in the market
B) the right to acquire competitors to prevent competition
C) the right to promote any product to any audience
D) the right to add additional taxes if necessary
E) the right to introduce any product in any size and style
Which of the following is an economic factor that a company should consider before
deciding to enter into a new country?
A) population size and growth
B) natural resources
C) cultural and social norms
D) political stability
E) climate
________ are consumer products and services with unique characteristics or brand
identification for which a significant group of buyers is willing to make a special
purchase effort.
A) Shopping products
B) Unsought products
C) Specialty products
D) Capital items
E) Convenience products
Mary Adams is helping her company develop a marketing program for a new product
line. The program is designed to appeal most to less materialistic consumer groups who
are likely to prize experience, not acquisition. The marketing program is most likely
designed to appeal to which of the following demographic groups?
A) Generation X
B) Millennials
C) Echo Boomers
D) Silent Generation
E) Lost Generation
What is competition-based pricing?
Explain price elasticity. What determines the elasticity of demand?
What is the difference between core beliefs and secondary beliefs? Give an example of
each.
When demand for toys produced by Bean Toyz was at its highest, manufacturers
purposefully maintained strong demand by limiting supply, which drove the price of
Beanie Babies up. Compare the actions of these manufacturers to the production
concept.
Under what conditions is a company most likely to use a product sales force structure?
Why is predatory pricing considered illegal?
Why is it important for companies to understand cultural differences and nuances
before entering a foreign country's market? Give two examples of cultural differences
that would be important for a company to know.
In what way does the government regulate pricing?
