For her current research project, Margaret Rogers wants to select a sample in which
every member has a known and equal chance of selection. In other words, Margaret is
looking for a ________.
A) simple random sample
B) convenience sample
C) stratified random sample
D) judgment sample
E) quota sample
Answer:
Compare and contrast a tariff and a quota.
Answer:
Which of the following best describes divisibility of an innovation that influences the
rate of adoption?
A) It is the degree to which the innovation is difficult to understand.
B) It is the degree to which the results of using the innovation can be observed or
described to others.
C) It is the degree to which the innovation appears superior to existing products.
D) It is the degree to which the innovation may be tried on a limited basis.
E) It is the degree to which the innovation fits the values and experiences of potential
consumers.
Answer:
________ have formal authority to select the supplier and arrange the terms of
purchase.
A) Users
B) Influencers
C) Buyers
D) Gatekeepers
E) Deciders
Answer:
________ are minor stimuli that determine where, when, and how a person responds to
an idea.
A) Cues
B) Drives
C) Reinforcers
D) Cognitions
E) Impulses
Answer:
Harvey’s Bookstore is a popular online bookstore that has differentiated itself through
smooth-functioning delivery networks. This is an example of ________ differentiation.
A) product
B) image
C) price
D) channel
E) people
Answer:
Which of the following is the adoption process stage at which the consumer considers
whether trying the new product makes sense?
A) awareness
B) interest
C) evaluation
D) adoption
E) trial
Answer:
Hilton helps others run their hotels by providing the management know-how. This type
of joint venture is known as ________.
A) contract manufacturing
B) licensing
C) management contracting
D) joint ownership
E) direct investment
Answer:
Marketers publicize inbound toll-free numbers to consumers in television and print ads,
direct mail, and catalogs. The benefit to sellers is that it presents an opportunity for
consumers to order products and for the seller to build the relationship. A benefit to
consumers is ________.
A) increased convenience
B) increased telemarketing calls
C) decreased telemarketing calls
D) 24/7 availability of support
E) a discounted price on the product
Answer:
Which of the following is an advantage of using newspapers as an advertising medium?
A) long life
B) good reproduction quality
C) large pass-along audience
D) broad acceptability
E) no ad competition within the same medium
Answer:
Symmonds Inc., a company manufacturing breakfast cereals, has extended its special
Crispo cereal brand into a full line of breakfast cereals plus protein shakes, fruit and
sandwich spreads, butter, and doughnuts. This is an example of ________.
A) line extension
B) brand extension
C) licensing
D) co-branding
E) cannibalization
Answer:
Which of the following Ps in the marketing mix describes the goods-and-services
combination the company offers to the target market?
A) price
B) promotion
C) product
D) place
E) package
Answer:
Refer to the scenario below to answer the following question(s).
Giant Beanstalks is a company based in Maryland that processes and cans vegetables. It
has contracts with several large farms in Riverdale, 80 miles away from the factory, that
agree to sell their produce to Giant Beanstalks. The company’s products are available to
the public only through Greenleaf, a grocery chain with 38 stores in the country.
Which of the following modes of transport should Roland choose to transport the
unprocessed vegetables from Riverdale’s farms to the Giant Beanstalks’ factory quickly
and with minimum cost?
A) air carrier
B) pipeline
C) truck
D) oil tanks
E) air tunnels
Answer:
Which of the following is an adverse effect of using promotional pricing?
A) It makes shopping stressful if used by multiple stores simultaneously.
B) It erodes the value of competing brands in the eyes of customers.
C) It gives pricing secrets away to competitors.
D) It creates “deal-immune” customers if used often.
E) It delays the company’s focus on short-term strategies.
Answer:
GameStop sells only video games and systems, offering a narrow product line with a
deep assortment within that line. GameStop is a(n) ________.
A) department store
B) convenience store
C) category killer
D) specialty store
E) off-price retailer
Answer:
________ marketing consists of activities undertaken to create, maintain, or change
attitudes toward particular people. People ranging from presidents, entertainers, and
sports figures to professionals such as doctors, lawyers, and architects use it to build
their reputations.
A) Corporate image
B) Person
C) Social
D) Organization
E) Place
Answer:
________ refers to the stage of the business buying process in which the buying
organization decides on and specifies the best technical product characteristics for a
needed item.
A) Performance review
B) General needs description
C) Product development
D) Proposal solicitation
E) Product specification
Answer:
In the context of product characteristics that influence the rate of adoption, ________
refers to the degree to which the innovation fits the values and experiences of potential
consumers.
A) communicability
B) relative advantage
C) compatibility
D) complexity
E) divisibility
Answer:
Which of the following is true of product line pricing?
A) The price steps take cost differences between products in the line into account.
B) The pricing strategy cannot be used by companies in developed countries.
C) The price steps do not account for the prices of similar products from competitors.
D) The pricing strategy involves overpricing products so that they appeal to the elite.
E) The customer’s perception of the value of different features is considered irrelevant.
Answer:
Which of the following is the first step of business portfolio planning?
A) shaping the future portfolio by developing strategies for growth and downsizing
B) determining which businesses should receive more, less, or no investment
C) identifying internal strengths and weaknesses
D) identifying future opportunities
E) determining short-term goals
Answer:
One common form of Internet fraud is phishing, a type of identity theft that uses
deceptive e-mails and fraudulent online sites to fool users into divulging personal data.
Answer:
Formed in 2004 and formalized in 2008, ________ makes up the largest trading block
after NAFTA and the European Union.
A) CAFTA-DR
B) FTAA
C) UNASUR
D) MCAN
E) GATT
Answer:
A large retailer of home improvement and construction products offers “how-to” classes
for do-it-yourselfers, featuring instructions on how to complete home improvement
projects using products sold at its stores. This is an example of how the retailer has
differentiated itself through its ________.
A) product assortment
B) services mix
C) segmentation
D) atmosphere
E) pricing
Answer:
Companies that pursue a clear strategy will likely perform well. Firms that do not
pursue a clear strategy are called ________.
A) jack-of-all-trades
B) middle-of-the-roaders
C) niches
D) red oceans
E) laggards
Answer:
As part of the rapid globalization of today’s economy, companies are selling more
domestically-produced goods in international markets and ________.
A) taking a local view of their industry
B) purchasing more supplies abroad
C) reducing competition within their industry
D) downplaying concerns for social responsibility
E) competing solely in traditional marketplaces
Answer:
________ means adjusting the marketing strategy and mix elements to each
international target market.
A) Standardized global marketing
B) Ambush marketing
C) Adapted global marketing
D) Mass marketing
E) Whole channel viewing
Answer:
Which of the following is most likely an advantage of survey research?
A) The flexibility of survey research is high; it can be used to obtain many different
kinds of information in many different situations.
B) Survey research allows researchers to observe respondents closely in their natural
environments.
C) The chances of getting dishonest feedback are almost negligible with survey
research.
D) The attitudes and motives of the customers can be easily determined through survey
research.
E) The data gathered in survey research is impartial and free from bias as the surveys
are done in-person to evaluate consumer behavior.
Answer:
The primary key to delivering customer satisfaction is to match product performance
with ________.
A) the performance of competitive products
B) competitive prices
C) aggressive advertising
D) limited customer services
E) customer expectations
Answer:
When marketers at Fair & Leigh Inc. selected the Millennials, a demographic group that
includes many college students, as an untapped group of potential customers for their
new line of products, they were engaging in ________.
A) occasion segmenting
B) local marketing
C) market diversification
D) market targeting
E) product positioning
Answer:
A(n) ________ brings buyers and sellers together and assists in negotiations.
A) agent
B) broker
C) retailer
D) wholesaler
E) industrial distributor
Answer:
Explain why a public relations campaign can be a more cost-effective option for
corporations than an advertising campaign.
Answer:
Differentiate between market-skimming and market-penetration pricing strategies.
Explain the conditions within which they are effective.
Answer:
Why is demand in the business market mostly inelastic?
Answer:
Compare and contrast the purpose and content of a branded community Web site to that
of a marketing Web site.
Answer:
Distinguish between undifferentiated and differentiated marketing strategies.
Answer:
Explain how a company benefits from monitoring the blogosphere.
Answer:
What is involved in pollution prevention? Give at least one example.
Answer:
How have changes in technology and the growth of online marketing affected the
design of marketing channels?
Answer:
How do marketers measure return on marketing investment? Why is this figure difficult
to assess?
Answer:
What determines whether sellers pursue basic relationships or full partnerships with
customers?
Answer:
When does product line stretching occur?
Answer:
What does market targeting involve?
Answer:
How can marketers reach the Generation Zers effectively?
Answer:
How might a firm benefit from implementing an “intrapreneurial” program?
Answer:
Explain the concept of integrated marketing communications (IMC).
Answer:
“The buying center concept presents a major marketing challenge.” What does a
business marketer need to learn in order to deal with the challenge effectively?
Answer:
How might a consumer view a price cut?
Answer:
Describe public relations and any three of its main functions.
Answer:
Identify product characteristics that influence the rate of adoption. Explain how each
characteristic affects the rate of adoption.
Answer: