In small firms, the marketing function is usually handled by a ________ who is
responsible for new-product planning, advertising, working with the company’s sales
representatives, and marketing research.
A) single marketing manager
B) brand manager
C) product category manager
D) market manager
E) venture team manager
________ is a new business strategy of offering a basic version of a product free of
charge and then charging for upgraded versions of the product.
A) Price discrimination
B) Freemium
C) Crowdsourcing
D) Reverse marketing
E) Dynamic marketing
Which one of the following statements about retailers and retailing activities is true?
A) Retailers create form utility.
B) Most retailers are multi-million dollar operations.
C) Retailers are members of channels of distribution.
D) About half of all U.S. workers are employed by retailers.
E) Retailers sell only to businesses.
Questions such as “What business are we in?” and “What customers should we serve?”
are typically addressed in the ________ stage.
A) operational planning
B) strategic planning
C) market targeting
D) functional planning
E) market planning
Which of the following is NOT a benefit provided by e-commerce?
A) It provides consumers the satisfaction of instant gratification.
B) It reduces the cost of doing business.
C) It enables specialized businesses to be more successful.
D) It provides consumers more access to pricing information.
E) It broadens product choices for consumers in smaller communities.
Recently a company brought a miniature version of its cereal bars to market. The
nugget-sized product was very successful because it was not messy. Another company
then introduced a similar product under its own brand. Mini-cereal bars are most likely
in the ________ stage of their product life cycle.
A) introduction
B) youth
C) growth
D) maturity
E) extension
A customer’s desire for a product coupled with the buying power or resources to obtain
that product is called a ________.
A) benefit
B) demand
C) need
D) stake
E) service
According to the BCG growth-market share matrix, ________ are strategic business
units with products that have a dominant market share in a high-growth market.
A) problem children
B) exclamation points
C) cash cows
D) stars
E) question marks
Strategic planning for a large firm such as Disney with several SBUs probably occurs
________.
A) only in its corporate headquarters
B) only at the individual business unit level
C) at both the overall corporate level and at the individual SBU level
D) as needed based upon the success of the division
E) at the location best suited for this function based upon findings of the SWOT
analysis
The method of setting prices in which marketers total all the costs for the product and
then add an amount to arrive at the selling price is called ________.
A) supply-based pricing
B) target costing
C) cost-plus pricing
D) yield management pricing
E) demand-based pricing
The population of Djibouti is approximately 810,179,700. To serve the communication
needs of this nation, there is one Internet service provider, two AM radio stations, two
FM radio stations, and one television station. There are only 8,000 telephone lines in
the whole country. This is a partial description of Djibouti’s ________.
A) gross national product (GNP)
B) business cycle
C) economic infrastructure
D) standard of living
E) gross domestic product (GDP)
A firm’s ________ is its entire range of products.
A) product line
B) product mix
C) marketing mix
D) promotional mix
E) positioning strategy
When a consumer is determining her overall feelings or attitudes about a product after
purchasing it, she is involved in the ________ step of the consumer decision-making
process.
A) problem recognition
B) information search
C) evaluation of alternatives
D) product choice
E) postpurchase evaluation
Which of the following is the responsibility of an advertising agency’s media planner?
A) recruiting new clients through different media outlets
B) deciding where, when, and how often an advertisement will appear
C) crafting interesting messages that convey a client’s marketing objectives
D) analyzing research about consumers to develop sensible advertising objectives
E) serving as the primary liaison between the client and its publics
Interpreted data is ________.
A) primary data
B) secondary data
C) exploratory research
D) descriptive research
E) information
Trusted Wholesalers is a company that purchases products produced in Mexico and
sells them to companies based in the United States and Canada. Management at Trusted
Wholesalers would most likely be interested in becoming experts in the agreements
made by ________.
A) the EU
B) NAFTA
C) CAFTA
D) APEC
E) MERCOSUR
Which of the following should be true for a skimming price to be successful?
A) Target consumers should be price sensitive.
B) Supply should exceed demand.
C) Demand must be stabilizing.
D) The producer should use intensive distribution.
E) There should be little chance that competitors can quickly enter the market.
Which of the following accurately identifies a difference between habitual decision
making and extended problem solving?
A) Extended problem solving uses behavioral learning, while habitual decision making
relies upon cognitive learning.
B) Consumers engaged in extended problem solving perceive less risk than consumers
involved in habitual decision making.
C) The level of involvement for habitual decision making is lower than it is for
extended problem solving.
D) Habitual decision making involves significant cognitive dissonance, while extended
problem solving rarely involves cognitive dissonance.
E) Consumers who are seeking to develop their loyalty to a brand would be more likely
to make habitual decisions than use extended problem solving.
Which of the following is a major marketing decision for most companies?
A) the type of metrics used to calculate ROI
B) how many people to employ
C) the geographic layout of the factory making the product
D) which products to market to which consumers without turning off other consumers
E) the accounting method used to report earnings
Juana looked at her September issue of O magazine and did not see anything of interest.
However, after her mother was diagnosed with bipolar disorder, Juana found the issue
extremely interesting because it offered advice on how to help people who are suffering
from this problem. The fact that the boring issue became quite interesting is most
directly due to a change in Juana’s ________.
A) exposure
B) cultural values
C) attention
D) personality
E) self-concept
In a(n) ________ culture, people tend to subordinate their personal goals to those of a
stable community.
A) collectivist
B) individualist
C) democratic
D) demographic
E) ethnocentric
Firms interested in using socially responsible packaging that is less harmful to the
environment are developing ________.
A) aesthetic packaging
B) green packaging
C) ingredient packaging
D) venture packaging
E) Kansei engineering
Which of the following is most characteristic of a developing country?
A) The country is moving away from an economy based on industry.
B) The market for consumer goods presents little growth potential.
C) The nation has an economy based on agriculture.
D) The country has a significant middle class.
E) The country has an economy based on exporting services.
A(n) ________ is the market segment a firm selects because management believes the
firm’s offerings are most suited to winning those customers.
A) target market
B) business portfolio
C) SBU
D) SWOT
E) marketing control
A company that intends to maintain low-end pricing policies to make the market
unattractive for its competitors is using which of the following pricing objectives in its
price planning?
A) sales
B) profit
C) break-even
D) competitive effect
E) customer satisfaction
The value chain activity of ________ refers to converting materials into a final product
for consumers.
A) inbound logistics
B) outbound logistics
C) operations
D) marketing
E) service
Kitchen dishcloths are often difficult to rinse clean and typically dry slowly. A company
developed a disposable kitchen cloth that rinses easily and dries quickly. Because this is
a new product to the market, it can be said to be in the ________ stage of its product
life cycle.
A) competitive
B) trial
C) introduction
D) growth
E) youth
The ________ is a document that describes the marketing environment, outlines the
marketing objectives and strategy, and identifies who will be responsible for carrying
out each part of the marketing strategy.
A) marketing mix
B) marketing plan
C) value proposition
D) value chain
E) open source model
Which of the following statements about the World Trade Organization (WTO) is true?
A) The WTO is a branch of the U.S. government.
B) Only countries that belong to established economic communities are granted
membership in the WTO.
C) Only developed nations are granted membership to the WTO.
D) The WTO’s main function is to help least developed countries grow their economies.
E) The WTO is the only international organization that deals with the global rules of
trade between nations.
A consumer doesn’t have to learn anything new to use a ________.
A) dynamically continuous innovation
B) dynamically continuous new product
C) discontinuous new product
D) continuous innovation
E) discontinuous innovation