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A good S.W.O.T. analysis helps a manager focus on a strategy that takes advantages of
the firm's opportunities and strengths while avoiding its weaknesses and threats to its
success.
Answer:
Direct-response promotion targets specific individuals who respond directly.
Answer:
Specific adaptations are usually made when the buying organization chooses to
outsource.
Answer:
In marketing, it is the manager's viewpoint that matters, not the customer's.
Answer:
In the United States, the basic objective of our market-directed economic system has
been to satisfy consumer needs as they, the consumers, see them.
Answer:
The traditional principles of communication are not important in customer-initiated
interactive communication.
Answer:
The last two letters in the S.W.O.T. refer to "opportunities" and "threats" related to
factors outside the company, including customers, competition, and the external
marketing environment.
Answer:
Product-market screening criteria should be mainly quantitative in nature, because
qualitative criteria are too subjective.
Answer:
In a quantitative marketing research study, the total group of people a marketing
manager is interested in learning something about is known as the sample.
Answer:
Consumers have a responsibility to preserve an effective macro-marketing system.
Answer:
A marketing manager wants to know why her sales are down. She talks with several
sales reps and finds that a competitor has introduced a successful new product. This
"research" seems to be part of
A. the situation analysis.
B. the problem solution stage.
C. obtaining problem-specific data.
D. the data interpretation stage.
E. the problem definition stage of the research process.
Answer:
Which of the following is LEAST likely to compete in the same generic market with
the others?
A. Popcorn.
B. Soft drink.
C. Napkin.
D. Cookie.
E. Ice cream.
Answer:
Identify the primary role of a public interest group like the Center for Science in the
Public Interest (CSPI) in market-directed economies.
A. It exposes firms that make false or exaggerated product claims.
B. It acts as a forum for consumers to report product dissatisfaction reviews.
C. It lets consumers easily access environmental product information and reviews.
D. It is a consumer watchdog group that pressures food companies to make healthier
products.
E. It lets technology firms play by the socially accepted rules of the game.
Answer:
Customer relationship management (CRM) helps consumer marketers:
A. limit their personalization efforts.
B. treat all submarkets as a single huge market.
C. reduce their focus on local customers.
D. deliver the same marketing mix to all customer segments.
E. treat customers individually as segments of one.
Answer:
A direct-to-customer channel
A. includes a retailer but not a wholesaler.
B. usually helps the producer to be more aware of changes in final customer attitudes.
C. eliminates some of the marketing functions.
D. is typical to reach final consumer markets.
E. is most suitable when a large number of transactions are required in the channel or
when orders are smaller.
Answer:
Which of the following organizations would be least likely to need marketing skills?
A. An accountant
B. An electronics retailer
C. A toy manufacturer
D. A financial advisor
E. All of these organizations would be likely to need marketing skills.
Answer:
In business markets, close buyer-seller relationships
A. may improve the profits of both the buyer and the seller.
B. are almost always desirable from the seller's point of view, but not from the buyer's
point of view.
C. may have benefits, but they usually increase a firm's uncertainty and risk.
D. None of these alternatives is correct.
Answer:
iRobot got its start by developing high-tech robots for military uses, but the company
later started making futuristic robots that clean and wax floors in homes everywhere.
Which of the four types of opportunity does this illustrate?
A. Market penetration
B. Market development
C. Diversification
D. Opportunity cost
E. Golden opportunity
Answer:
Catalogs, point-of-purchase materials, and free samples are all examples of:
A. publicity.
B. personal selling.
C. sales promotion.
D. advertising.
Answer:
_____ is a written or electronic description of what the firm wants to buy.
A. An estimate
B. A negotiated contract
C. A new market order
D. A purchase order
E. A set of purchasing specifications
Answer:
Reference group
A. influence is so strong that a person normally has only one reference group.
B. influence is greatest for older people.
C. influence is equally strong for all products and brands.
D. members may not even know the people who influence their values and attitudes.
E. None of these alternatives is correct.
Answer:
Identify the INCORRECT statement about the effect of marital status, age, and the age
of any children in the family, on how people spend their income.
A. Singles and young couples are more willing than older married people to try new
products and brands.
B. Younger people usually earn more than older consumers, but spend less on
discretionary items.
C. Only as children arrive and grow does family spending shift to soft goods and
services.
D. All of these statements are CORRECT.
Answer:
If a large furniture retailer were to purchase Drexel (a manufacturer of sofas and
chairs), this would be an example of:
A. a tying contract.
B. an administered channel system.
C. internal expansion.
D. vertical integration.
E. horizontal integration.
Answer:
The statement, "I plan to see the new Tom Hanks movie," is an example of:
A. a drive
B. reinforcement
C. an attitude
D. a belief
E. an intention
Answer:
An interview with 6 to 10 people in an informal group setting is called a(an):
A. secondary interview.
B. focus group interview.
C. observation interview.
D. quantitative research interview.
E. informal investigation.
Answer:
In its efforts to support new-product development ideas within its own company,
Google allows its employees to spend _______ percent of their time each week thinking
about new product ideas, even if the ideas are not related to the employees' specific
jobs.
A. 5
B. 10
C. 15
D. 20
E. 25
Answer:
A situation analysis
A. can never eliminate the need for further research.
B. is used primarily in the problem solving step.
C. is expensive compared with more formal research efforts.
D. can be very informative, but takes little time.
E. must be quantitative to be useful.
Answer:
Glitter, Inc. advertises its "gold-tone" jewelry on TV, along with a toll free number and
the message that "operators are standing by now to take your credit card order." This is
an example of:
A. direct type competitive advertising.
B. pioneering advertising.
C. primary advertising.
D. comparative advertising.
E. indirect type competitive advertising.
Answer:
Garoc Corp. has developed a reputation for poor customer service over the last couple
of decades. Which of the following practices will help the company turn its reputation
around?
A. Taking a reactive approach to customer service over a proactive approach
B. Replacing existing customers with new customers
C. Limiting customer service reps' role in personal selling
D. Limiting the sales function only to the salespeople in the company
E. Monitoring customers' complaints by accessing big data from social media and the
web
Answer:
In a simple economy, one family may produce only cooking pots, but many of them.
Others may specialize in farming, making clothing, and building shelters. This
A. shows why "discrepancies of assortment" occur.
B. is so simple that the universal functions of marketing don't have to be done.
C. cannot work without an intermediary.
D. is an example of 'separation in values" since the different families choose to produce
different things.
Answer:
A popular television show, The Unexpected, achieved skyrocketing ratings after
moralist Tom Bowman attempted to have it removed from the air. This is an example of
mass selling through
A. advertising.
B. publicity.
C. unethical means.
D. personal selling.
E. media hype.
Answer:
Accepting the "marketing concept" means that a firm should have a ____________
orientation.
A. marketing
B. research
C. production
D. sales
E. planning
Answer:
Regarding pricing objectives, a good marketing manager knows that:
A. sales-oriented objectives usually lead to high profits.
B. target return objectives usually lead to a large profit.
C. status quo pricing objectives can be part of an extremely aggressive marketing
strategy.
D. profit maximization objectives always lead to high prices.
E. None of these alternatives is correct.
Answer:
The vertical marketing system in which control is maintained via informal cooperation
among the channel members is a(n):
A. Administered channel system.
B. Corporate channel system.
C. Contractual channel system.
D. Franchise channel system.
E. Channel captain system.
Answer:
Which of the following statements about retailing on the Internet is true?
A. More product information is readily available.
B. Product assortments available are not limited by the customer's location.
C. Price comparisons are easy.
D. Product inspection is available through photos and videos.
E. All of these statements about retailing on the Internet are true.
Answer:
Regarding product life cycles, a good marketing manager knows that
A. entirely different target markets may be involved at different stages of the product
life cycle.
B. a product that doesn't get beyond the introduction stage is still likely to be very
profitable.
C. industry profits are increasing well after sales start to decline.
D. once a market goes into sales decline, oligopoly conditions set in.
E. All of these alternatives are correct.
Answer:
Unlike the GDP, the GNI
A. includes foreign income.
B. is the total market value of all goods and services provided in a country's economy in
a year by nonresidents.
C. includes the income earned by residents who do not own resources in that nation.
D. does not include income earned by foreigners who own resources in that nation.
E. is a measure of regional income.
Answer:
__________ are a type of limited-function wholesaler that owns products they sell, but
do not actually handle, stock, or deliver them.
A. Rack jobbers
B. Catalog wholesalers
C. Drop-shippers
D. Truck wholesalers
E. Cash-and-carry wholesalers
Answer:
According to the text, micro-marketing may cost too much because:
A. too many managers seize on whatever strategy seems easiest.
B. too many managers are slow and bureaucratic.
C. too many managers jump on the "what's new" bandwagon without a strategy that
ensures customer satisfaction and company profits.
D. too many managers have the mentality "that's not the way we do things."
E. All of these are reasons why micro-marketing may cost too much.
Answer:
Business firms that sell to retailers and other merchants, and/or to industrial,
institutional, and commercial users-but which do not sell in large amounts to final
consumers-are:
A. retailers.
B. collaborators.
C. producers.
D. wholesalers.
E. intermediaries.
Answer:
Which of the following statements about ISO 9000 is NOT TRUE?
A. ISO 9000 is a way for a supplier to document its quality procedures according to
internationally recognized standards.
B. ISO 9000 reassures a customer that the supplier has effective quality checks in place
after it conducts a personal quality audit.
C. Some customers will not buy from a supplier who does not have ISO 9000
certification.
D. One requirement for ISO 9000 certification is that a company must show outside
auditors who is responsible for quality every step of the way.
E. ISO 9000 helps organizational customers who are considering a new supplier.
Answer:
Focus groups
A. stimulate discussion among participants.
B. involve interviewing people in a formal setting.
C. use close-ended, yes or no questions.
D. are the same as opinion leaders.
E. are the same as reference groups.
Answer:
