3D HDTVs are in which stage of the product life cycle?
a. introduction
b. growth
c. maturity
d. decline
e. harvest
Answer:
Industrial services are support products that include items such as
a. stationery, paper clips, and brooms.
b tools and office equipment.
c buildings and fixed equipment.
d. raw materials and component parts.
e. maintenance, repair, and legal services.
Answer:
The economy refers to
a. the independent financial factors that are not affected by changes in government
spending.
b. the purchase of the highest quality product for the lowest possible price.
c. the production, distribution, and consumption of products, services, and ideas by
households.
d. the income, expenditures, and resources that affect the cost of running a business and
household.
e. the forces within a manufacturer’s control that affect the demand and supply its
offerings.
Answer:
The __________ summarizes the profitability of a business firm for a specific time
period, usually a month, quarter, or year.
a. balance sheet
b. annual report
c. income statement
d. assets-liabilities statement
e. data mine
Answer:
At the Christmas Tree Shop, customers can shop for Christmas gifts at any time of year.
What type of utility does this store primarily provide for its customers?
a. place and conformance
b. possession and form
c. form
d. performance
e. time
Answer:
Doris Lewis owns Lewis Edibles, Inc., a company that makes Tongue Tinglin” B.B.Q.
Sauce. She wants to target local people who like the special blend of flavors found only
in North Carolina barbecue sauce. In developing a marketing strategy to sell the sauce,
Lewis decided to join Goodness Grows in North Carolina, a specialty food association
that advertises local products and distributes them to local supermarkets and gourmet
shops. Lewis has just
a. formed a market segment using critical product features.
b. formed products to be sold into groups.
c. developed a market-product grid and estimating size of markets.
d. taken marketing actions to reach a target market segment.
e. formed prospective buyers into segments.
Answer:
Location-based social networking apps such as Foursquare reward customers for
a. using minutes on their mobile phones.
b. shopping online.
c. responding to TV ads.
d. reporting their locations and visiting stores.
e. answering customer service surveys on their mobile phones.
Answer:
A rehabilitation center wants to target women in their 20s who have received some
permanent disability as the result of a skiing accident. In terms of the criteria used for
selecting a target segment, this market would
a. have no expected growth.
b. not be compatible with the company’s current resources.
c. not be worth doing since its market size is very small.
d. not be readily accessible to the firm’s marketing programs.
e. be relatively difficult to access.
Answer:
Which of the following pieces of information is used in a SWOT analysis, the first step
of the planning phase of the strategic marketing process?
a. marketing return on investment
b. projected future sales, expenses, and profits
c. market share for the product
d. revenues associated with each point of market share
e. possible cannibalization effects on other products in the line
Answer:
Anheuser-Busch acts on what it views as an ethical obligation to its customers and the
general public with its
a. development of a low-carb beer.
b. annual sponsorship of the Super Bowl.
c. exclusive use of ingredients from American manufacturers and suppliers.
d. alcohol awareness and education programs.
e. commitment to maintaining the lowest prices possible without sacrificing taste.
Answer:
Marketing refers to
a. the production of products or services that will generate the highest return on
investment.
b. the strategies used in the advertising and promotion of products and services.
c. the process of identifying target market segments for a product or service.
d. the activity involved in actually getting a product or service to ultimate consumers
and organizational buyers.
e. the activity for creating, communicating, delivering, and exchanging offerings that
benefit its customers, the organization, its stakeholders, and society at large.
Answer:
Which of the following is an inherent strength of personal selling?
a. Personal selling can provide the target audience with complex information.
b. Personal selling has low seller involvement.
c. Personal selling can prepare messages quickly.
d. Personal selling is an efficient means for reaching large numbers of people.
e. Personal selling is often the most credible source in the consumer’s mind.
Answer:
Consumer-oriented sales promotions refer to
a. sales tools used to support a company’s advertising and personal selling directed to
ultimate consumers.
b. promotions where charitable contributions of a firm are tied directly to the customer
revenues produced through the promotion of one of its products.
c. methods used to get a nonpersonal, indirectly paid presentation of a company or its
products.
d. advertisements that show actual consumers using the product.
e. sales promotions that supplement advertising and personal selling but are directed to
wholesalers, retailers, or distributors.
Answer:
Bill McDermott is President and CEO of SAP Americas and Asia Pacific Japan. SAP is
a company that sells extremely expensive enterprise resource planning software to large
and mid-sized companies. McDermott operates at the __________ level of his
organization.
a. business unit
b. functional
c. corporate
d. strategic
e. tactical
Answer:
The National Retail Federation estimates that about __________ percent of retail
shrinkage is due to employee theft.
a. 14
b. 24
c. 34
d. 44
e. 54
Answer:
During the next-to-the-last stage of the organizational buying decision process, the
organization
a. does an information search.
b. engages in postpurchase behavior.
c. evaluates alternatives.
d. makes the purchase decision.
e. recognizes the final problem.
Answer:
Buy classes refer to the three types of organizational buying situations:
a. buy, lease, and rent.
b. new buy, make-buy, and modified rebuy.
c. manufacturing contracts, consulting contracts, service contracts.
d. new buy, straight rebuy, and modified rebuy.
e. new buy, remake, and used buy.
Answer:
Conducting business in a way that protects the natural environment while making
economic progress is referred to as
a. sustainable development.
b. green marketing.
c. stakeholder responsibility.
d. the marketing concept.
e. environmental marketing.
Answer:
The VALS framework is an example of
a. a personality assessment.
b. cognitive learning theory.
c. a psychographic system.
d. a study on the hierarchy of needs.
e. geodemographic segmentation.
Answer:
Dell established its company primarily with direct telephone-and Internet-based sales.
In terms of Dell’s global expansion strategy, which of the following statements is most
accurate?
a. Dell will continue to use its direct buy strategy but will require all new employees in
its sales force to be multilingual.
b. Dell will open ‘shop-in-a-shop” counters in selected retailers in India where
customers can reduce purchase anxiety by using the computers before they buy.
c. Dell will establish call centers in all major international cities so that customers may
deal directly with native-born speakers.
d. Dell will issue its own credit card through microfinance-oriented banks, making it
possible for customers who would not normally qualify for credit to do so.
e. Dell will maintain the exact same strategies that brought it this far because it sees no
reason to “mess with success.”
Answer:
The two basic forms of team selling are __________.
a. augmented selling and integrated selling
b. enterprise selling and strategic alliance selling
c. cross-functional teams and cross-tier teams
d. conference selling and seminar selling
e. network selling and matrix selling
Answer:
In some instances, firms pair multiple channels with a multibrand strategy. The purpose
of this strategy would be to __________ of the firm’s family brand and differentiate its
marketing channels.
a. create greater perceived value
b. maximize channel profits
c. minimize cannibalization
d. generate awareness
e. create a “backup” channel
Answer:
FloNetwork, Inc. is a company that has developed automation solutions for electronic
marketing. Its software is able to handle all aspects of permission marketing-based
campaigns from list generation and e-mail deployment to real-time tracking and
in-depth analysis. To sell its system, the company conducts educational programs
targeted to the technical staff in a prospective customer’s information technology (IT)
department to discuss recent technological developments with the product. In this
situation, FloNetwork uses __________.
a. partnership selling
b. seminar selling
c. conference selling
d. sales engineers
e. formula selling
Answer:
In marketing, an organization refers to
a. a legal entity of people who share a common mission.
b. a group of people united through contractual or corporate ownership.
c. a legal entity engaged in business activities solely with the intent of making a profit.
d. a legal entity engaged in business activities solely with the intent of serving its
employees without the intent of making a profit.
e. a privately owned entity that serves its customers to earn a profit so that it can
survive.
Answer:
A product line is a group of product or service items that are closely related because
they satisfy a class of needs, are used together, are sold to the same customer group,
__________, or fall within a given price range.
a. are made of similar components
b. made from the same formulations
c. require high levels of R&D
d. have one SKU number
e. are distributed through the same type of outlets
Answer:
Business researchers emphasize that firms must actively involve customers and
suppliers in the new-product development process. This means that the focus should be
on what the new product will __________ rather than simply what they want.
a. look like
b. cost them
c. do for them
d. feel like
e. consist of in terms of new features
Answer:
If a purchase is a new buy for a manufacturer, the seller should be prepared to act as a
consultant to the buyer, expect a long time for a buying decision to be reached, and
a. expect to have to do some favors for the decision makers.
b. anticipate a great deal of conflict.
c. accommodate unlimited specification change before the buy is completed.
d. work with technical personnel.
e. avoid making concessions or compromises.
Answer:
The pairing of two brand names of two manufacturers on a single product is referred to
as __________.
a. multibranding
b. brand bundling
c. co-branding
d. mixed branding
e. reseller branding
Answer:
Marketing discovers consumer needs by
a. implementing a marketing program.
b. conducting extensive marketing research.
c. balancing the marketing mix elementsthe 4 Ps of the marketing program.
d. advertising to diverse groups of prospective buyers.
e. copying the products and services of its competitors.
Answer:
Prego recently introduced a Pasta Bake Sauce, which was made so that it was not
necessary to precook the pasta before blending pasta, sauce, meat, and cheese in a
casserole. Legally, this product would only be considered new
a. for the first six months that it was regularly available.
b. until a competitor like Ragu had issued a similar product targeted to the same market.
c. as long it retained these exact product characteristics.
d. if it was functionally the same as its salsa sauce.
e. until its advertising had been seen by every member of its target audience.
Answer: