Which of the following IS NOT a function or potential function of packaging?
a. protection
b. storage
c. convenience
As a form of __________ competition, bicycles can solve the same basic need as
automobiles, albeit with a very different product.
a. regular
b. generic
c. brand
The PTL Corporation provides long-distance telephone services to consumer and
business markets. The company recently initiated a marketing strategy designed to
promote customer knowledge and educate customers about the company and its
products. The strategy is also designed to prospect for new customers. At what stage of
the customer relationship development process does PTL find itself?
a. repeat purchase
b. community
c. awareness
The growth of the Internet has changed the way that situation analysis is conducted in
today’s business environment. In terms on situation analysis, which of the following is
the most drastic change caused by the Internet?
a. Specific data and information take longer to find.
b. The analyst is more likely to suffer from severe information overload.
c. Data and information are now more relevant to the question at hand.
d. All competitors now have access to the same data and information.
e. There is now no such thing as secrecy in strategic planning.
In terms of marketing channel functions, which of the following statements describes
the concept of discrepancy of quantity?
a. Manufacturers make one or a few product(s)’”customers need variety and assortment.
b. Channels must make products available in convenient locations.
c. Channels add value to products by standardizing the exchange process.
d. Channels must provide for the storage of products for future purchase and use.
e. Manufacturers produce large quantities; customers usually want only one item.
Assume Kia has developed a new product idea to launch a midsize pickup. Currently,
Kia is developing a prototype and working on projected costs, revenues, and profit
potential. Kia is currently at what stage of the new product development process?
a. idea generation
b. development
c. screening and evaluation
The Fairmont Hotel is widely known for its exceptional quality and impeccable
customer service. Not surprisingly, the Fairmont sets prices at the top end of all
competing hotels. Which pricing strategy is the Fairmont using?
a. exclusive pricing
b. image pricing
c. psychological pricing
The main advantage of __________ is specialization, as it allows the firm to focus its
resources toward understanding and serving a single segment.
a. focused marketing
b. unidimensional marketing
c. mass marketing
In the traditional transactional marketing approach, the ultimate goal of marketing is to:
a. serve customers’ needs and wants.
b. develop long-term customer relationships.
c. create value in the buyer-seller relationship.
d. acquire new customers and complete a large number of exchanges.
e. All of the above are goals of transactional marketing
Essentially, having a climate of ethics and social responsibility is all about creating trust
among a firm’s stakeholders. To gain trust, the firm and its employees must
continuously uphold:
a. their promises with respect to advertising and promotion.
b. their standards of integrity.
c. the firm’s right and responsibility to be profitable.
d. their standards of fair competition in the marketplace.
e. their legal responsibilities.
Which of the following is the best example of an unsought product?
a. gasoline
b. clothing
c. antiques
__________ refers to the degree of superiority of a firm’s goods or services. It is a
relative term because it can only be judged in comparison to competing products or
when compared to an internal standard of excellence.
a. Value
b. Durability
c. Quality
Being economically responsible is the most basic social responsibility of any business.
This responsibility has the most immediate effect on:
a. customers.
b. shareholders.
c. the government.
d. the media.
e. All of the above.
The inherent goal of product differentiation is to make the demand curve for a product
more inelastic. This happens because increased differentiation:
a. reduces the number of perceived substitutes for a product.
b. makes the product more expensive than its competitors.
c. increases the quality of the product making it worth the expense.
d. reduces the time and effort required to obtain the product.
e. increases the just noticeable differences among competing products.
Typically, the difference between the planned marketing strategy and the strategy that
actually takes place is:
a. caused by managerial mistakes, not by changes in the firm’s internal or external
environments.
b. typically caused by unexpected competitive activity.
c. caused by the way the planned marketing strategy is implemented.
d. independent of marketing implementation.
e. caused solely by changes in customer behaviors.
Overall, the trends occurring in marketing channels today (growth in e-commerce,
outsourcing, growth of nontraditional channels) have one major theme in common.
What is that theme?
a. Enhancing the reputation of the supply chain.
b. Reducing the risk of legal action in the supply chain.
c. Increasing channel efficiency by reducing waste, overhead, and other costs.
d. Securing more power and control for manufacturers.
e. All of the above are common themes.
Some companies choose to engage in a deceptive marketing practice called
__________, which involves misleading consumers into thinking that a product is more
environmentally friendly than it actually is.
a. environmentalism
b. green marketing
c. LEED
Which member of the marketing channel has the primary responsibility of fulfilling the
channel’s main functions?
a. manufacturers
b. wholesalers
c. retailers
Which of the following IS NOT a purpose of a marketing plan?
a. It explains the present and future situations of the organization.
b. It specifies the expected outcomes of the plan.
c. It describes specific actions that are to take place.
d. It explains how marketing activities mesh with other functional areas.
e. It identifies resources needed to carry out the plan.
__________, which occurs when a firm charges different prices to different customers,
occurs in both consumer and business markets. However, it is very common among
different members of the supply chain.
a. Price discrimination
b. Price fixing
c. Predatory pricing
__________ firms are those that successfully generate, disseminate, and respond to
market information.
a. Customer-oriented
b. Information-oriented
c. Satisfaction-oriented
While all marketing plans face a number of obstacles in development and
implementation, __________ is by far the most commonly occurring obstacle across
most firms.
a. failure to see the whole picture
b. inadequate information
c. resistance to change