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If a firm adopts a CRM business philosophy, it most likely has a(n) _______ orientation
with its customers.
A. transactional
B. external
C. relational
D. internal
E. divisional
Answer:
As noted in your text, global segmenting, targeting, and positioning are more
complicated than domestic segmenting and positioning because of cultural nuances,
significant subcultures within countries, and
A. currency differences.
B. antidiscrimination regulations prohibiting segmentation and targeting in developing
countries.
C. differences in the way consumers see themselves and in the way they see products
and services.
D. complications due to franchising issues.
E. the taxes imposed by some foreign countries on marketing activities.
Answer:
Jeff opened a sporting apparel store and signed a lease on the property. He also signed
an agreement with the manufacturer on the amount of merchandise he will sell and the
promotions he will conduct. Based on this description, which aspect of the marketing
mix does he still need to work on?
A. price
B. place
C. promotion
D. product
E. prototype
Answer:
Public relations is the component of IMC that
A. supports other promotional efforts by generating "free" media attention.
B. has received the greatest increase in spending.
C. converts mass media advertising into direct marketing.
D. most effectively uses IMC encoding.
E. generates the most gross rating points.
Answer:
A study found that, among addicted smokers, a 10 percent increase in the price of
cigarettes resulted in a 2 percent decrease in quantity demanded. For these consumers,
cigarettes have a(n) _______ price elasticity demand.
A. elastic
B. inelastic
C. cross-price
D. income effect
E. substitution effect
Answer:
Benefits of the traditional retail store as a channel include the ability to
A. provide personalized and meaningful product information.
B. offer a greater selection of products.
C. offer an expanded market presence for all consumers.
D. efficiently collect information about how consumers shop for a particular product.
E. quickly compare prices across multiple channels.
Answer:
When a plumbing contractor drove up to Bill's house in a brand-new Mercedes, Bill
decided this person would be too high-priced even before the plumbing contractor
offered his bid. Bill made the mistake of
A. assuming Murphy's Law is true.
B. anticipating his preapproach.
C. not overcoming reservations.
D. closing the sale too early.
E. making an assumption of cost based on appearances.
Answer:
Taylor loves the lifestyle associated with being a salesperson, allowing her to take a day
off during the week and making it up on the weekend. She most likely values the
__________ associated with creating her own schedule.
A. structure
B. rigidity
C. flexibility
D. selling team approach
E. compensation
Answer:
Several personal traits are listed in the text as being important for successful sales
careers. Harvey is a go-getter. He gets up early every morning to check his schedule and
arrives at appointments early so he can get in the right mental frame of mind. Which of
the traits listed in the text does Harvey exhibit?
A. personality
B. optimism
C. resilience
D. self-motivation
E. empathy
Answer:
Retail salespeople should not __________ and assume that a person in the store cannot
afford to purchase the store's products based on appearances.
A. assume Murphy's Law is true
B. "run for the roses"
C. "judge a book by its cover"
D. "let sleeping dogs lie"
E. attempt to "keep up with the Joneses"
Answer:
Apps like calendars, trip planners, and flight trackers help consumers fulfill which
primary motivation?
A. to prepare
B. to accomplish
C. to discover
D. to work
E. to organize
Answer:
Monica works as a salesperson in a retail clothing store. Of the five stages in the selling
process, Monica is leastlikely to engage in
A. generating and qualifying leads.
B. making the preapproach.
C. closing the sale.
D. following up.
E. making a sales presentation.
Answer:
Jackson manages a men's styling salon in the Buckhead area of Atlanta. He has trained
his sales staff to report comments and requests for services the store currently does not
offer. Which services gap might this information help reduce?
Answer:
Retailers focusing on increasing sales to their best customers are attempting to
A. slay the category killers.
B. compete with off-price retailers.
C. drive their supply chain.
D. increase their share of wallet.
E. combat the inroads made by big-box specialty retailers.
Answer:
The amount of time between the recognition that an order needs to be placed and the
arrival of the needed merchandise at the seller's store to be available for sale is referred
to as
A. quick time.
B. an advanced shipping notice.
C. lead time.
D. float time.
E. supply chain conflict time.
Answer:
Global pricing strategies should strive to be consistent with
A. offshore distribution facilities.
B. the cost of materials.
C. positioning strategies.
D. domestic pricing.
E. trade surplus guidelines.
Answer:
Which of the following provides the information needed to confirm insights and help
managers pursue appropriate courses of action?
A. quantitative research
B. qualitative research
C. observation research
D. in-depth interviews
E. social media monitoring
Answer:
In the movie Field of Dreams, one of the memorable phrases is, "If you build it, he will
come." The AIDA model would suggest that after marketers "build" a product or service
and create awareness among consumers, they need to
A. determine the level of desire needed to sustain action.
B. promote sufficiently to gain global attention.
C. create interest among consumers, persuading them to investigate further.
D. offer discounts to increase purchase intentions.
E. take steps to encourage immediate purchase.
Answer:
Your text notes that global markets are the result of several fundamental changes.
Which of the following is not one of those changes?
A. reductions or eliminations of trade barriers by governments
B. decreasing concerns of distance and time with regard to moving products across
countries
C. declining fuel costs allowing cost-effective shipping to global markets
D. the standardization of laws across borders
E. globally integrated production processes
Answer:
In a(n) __________ marketing channel, none of the participants have any control over
the others.
A. cooperative
B. corporate
C. contractual
D. administered
E. conventional
Answer:
Political candidates are notorious for appealing to the different beliefs and values of
groups of potential voters in different areas of the country. These politicians are
appealing to differences in
A. popular culture.
B. regional culture.
C. demographics.
D. generational cohorts.
E. country culture.
Answer:
Franco, a former retailer, has been living in the United States for five years and wants to
start a business. He does not have an existing firm or a product, and he doesn't have a
lot of capital, but since he loves McDonald's food, he decides to
A. open a McDonald's franchise.
B. directly invest in McDonald's.
C. export McDonald's products to other countries.
D. form a strategic alliance with McDonald's.
E. form a joint venture with McDonald's.
Answer:
Elena is the CEO of a small manufacturing firm. She is concerned with meeting the
investment objectives of the firm's shareholders, and sees no value in corporate social
responsibility. Elena's attitude is
A. insupportable in the 21st century.
B. consistent with the views of other critics of corporate social responsibility.
C. typical of nearly all manufacturers.
D. a reaction to regulatory directives of the U.S. government.
E. unethical.
Answer:
Learning refers to a change in a person's thought process or behavior that arises from
A. attitudes.
B. experience.
C. risk analysis.
D. cultural norms.
E. postpurchase dissonance.
Answer:
Maslow's Hierarchy of Needs includes physiological needs at the lowest level and
self-actualization at the top. The three levels in between are
A. material goods, safety, and love.
B. community, family, and self.
C. safety, stability, and striving.
D. health, wealth, and happiness.
E. safety, love, and esteem.
Answer:
The number of participants who discontinue their use of a service divided by the
average number of total participants is called
A. churn.
B. customer retention.
C. customer lifetime value.
D. cancellation cost.
E. customer loyalty.
Answer:
Andy likes gourmet popcorn, and will spend time trying to find his favorite brand. His
girlfriend, Joanne, loves popcorn but doesn't care about brands. For Andy, popcorn is a
__________ good while for Joanne it is a __________ good.
A. shopping; specialty
B. convenience; shopping
C. convenience; specialty
D. specialty; convenience
E. unique; universal
Answer:
Many years ago Honda's Accord and Ford's Taurus were the two top-selling cars in the
United States. As the year was coming to an end, Ford cut the price of the Taurus,
hoping to outsell the Accord and allow Ford to claim that "Taurus is the best-selling car
in America." Ford was using a _______ pricing strategy.
A. maximizing profits
B. target profit
C. sales orientation
D. status quo
E. target return
Answer:
After observing a customer verbally abuse a server, the first thing a manager can do to
ensure quality service is to
A. throw the customer out of the restaurant.
B. assume the server provoked the attack and respond accordingly.
C. provide emotional support to the server.
D. review the delivery support system.
E. make sure services delivery expectations are consistent and coherent throughout the
organization.
Answer:
Shorter lead times allow retailers
A. access to a more diverse supply chain.
B. to reduce the need for pick tickets.
C. to skip advanced shipping notices.
D. to replace JIT systems with VMI systems.
E. to reduce the needed level of inventories.
Answer:
Malcolm is the campaign manager for a congressional candidate. He wants to know
how voters across his district feel about recent sexual harassment scandals involving
politicians. Malcolm will most likely use __________ to gather this type of data.
A. surveys
B. observation
C. experiments
D. voter registration data
E. census data
Answer:
A measure termed _______ describes how useful an ad message is to the consumer
doing the search.
A. reliability
B. relevance
C. impression
D. awareness
E. return on investment
Answer:
Harold is a loyal Coca-Cola customer. Loyal customers like Harold require lower
marketing expenditures, benefiting businesses like Coca-Cola.
Answer:
