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The marketing concept that starts with a well-defined market, focuses on customer
needs, and integrates all the marketing activities that affect customers takes a(n)
________.
A) outside-in perspective
B) product-centered make-and-sell philosophy
C) inside-out perspective
D) consumer-generated marketing approach
E) telling-and-selling approach
A quantity discount is a price reduction for buyers who ________.
A) buy merchandise out of season
B) buy merchandise in bulk
C) pay their bills on time
D) buy discontinued products
E) return old items while buying new ones
An American cola-manufacturing company that primarily targets rebellious and
adventurous people most likely uses ________ segmentation.
A) occasion segmentation
B) geographic segmentation
C) income segmentation
D) benefit segmentation
E) psychographic segmentation
RedFin manufactures diving equipment that is highly regarded by customers
worldwide. Each department in RedFin contributes to its success and can be thought of
as a(n) ________.
A) link in the company's internal value chain
B) separate organization
C) independent subsidiary of the company
D) separate market segment
E) SBU
Orion Inc. markets luxury watches and chronographs. It targets the wealthy global elite
segment, regardless of their geographic location. Orion most likely uses ________
segmentation.
A) income
B) age-group
C) occasion
D) benefit
E) cross-market
Which of the following companies uses captive product pricing?
A) Photo Genie, which sells inexpensive cameras that run only on their own expensive
batteries
B) Tune Zone, which launched a range of mp3 player models, each priced according to
its features
C) Penguin's Parlor, which offers customers a 20% discount on their birthdays
D) Sportsprint, which prices sports equipment according to customer evaluations
E) Burger Den, whose combo meals are priced lower than its individual components
sold together
A(n) ________ is an individual who represents a company to customers by prospecting,
communicating, selling, servicing, information gathering, and/or relationship building.
A) salesperson
B) trainer
C) auditor
D) manager
E) human resource personnel
Which of the following companies has a market-oriented business definition?
A) An electronics company, whose business definition is: "We produce microchips."
B) A hotel, whose business definition is: "We rent rooms."
C) An apparel company, whose business definition is: "We make and sell women's
clothing."
D) A cosmetic company, whose business definition is: "We sell hope and self-esteem."
E) A pizzeria, whose business definition is: "We sell the world's most delicious
thin-crust pizzas."
Market niching is profitable because the company ________.
A) copies or improves on the leader's products and programs, usually with much less
investment
B) bears the cost of developing new products and markets, expanding distribution, and
educating the market
C) knows the needs of the target customer segment better than other firms that casually
attempt to sell to the same segment
D) either keeps its manufacturing costs and prices low or its product quality and
services high
E) can achieve economies of scale much faster by selling the same product to the global
market
Which of the following is NOT an accurate description of modern marketing?
A) Marketing is the creation of value for customers.
B) Marketing involves managing profitable customer relationships.
C) Marketing emphasizes selling and advertising exclusively.
D) Marketing involves satisfying customers' needs.
E) Marketing is building value-laden exchange relationships with customers.
Giant Beanstalks is a company based in Maryland which 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.
What distribution strategy does Giant Beanstalks use?
A) inclusive distribution
B) exclusive distribution
C) selective distribution
D) intensive distribution
E) extensive distribution
Rachel works for a furniture company in Ireland. She is responsible for buying and
selling goods at a profit to small retailers. Rachel most likely operates in a ________
market.
A) business
B) reseller
C) wholesale
D) consumer
E) retail
Which of the following appeals is based on the idea that consumers often feel before
they think?
A) emotional appeal
B) rational appeal
C) structural appeal
D) standardized appeal
E) integrated appeal
________ segmentation divides buyers into segments based on their knowledge,
attitudes, uses, or responses concerning a product.
A) Behavioral
B) Psychographic
C) Age and life-cycle
D) Gender
E) Geographic
Which of the following marketing orientations calls for aggressive promotional efforts
and focuses on creating transactions rather than long-term customer relationships?
A) the marketing concept
B) the production concept
C) the product concept
D) the selling concept
E) the societal marketing concept
Which of the following would be considered predatory pricing?
A) a company which prices it products below cost to get rid of a surplus
B) a company which prices below cost to drive out competitors
C) a company which offers a volume discount
D) a company which offers the suggested retail price on the manufacturer's package
E) a company which offers real-time pricing online
Which of the following is most likely a fixed cost?
A) sales representative commissions
B) product distribution costs
C) manufacturing input costs
D) temporary worker salaries
E) facility rental payments
Which of the following statements is true of test marketing?
A) The amount of test marketing needed remains constant for each new product.
B) When the costs of developing and introducing the product are low, the company will
have to do significant test marketing.
C) Test marketing is seldom done on products that are risky.
D) Test marketing is seldom done when management is not sure of the product or its
marketing program.
E) Test marketing costs can be high, and it takes time that may allow competitors to
gain advantages.
When it first opened stores across the United States, Bateman's, an office supply chain
store, had the best product selection, the best service, and the lowest prices compared to
other office supply chain stores. As a result, Bateman's captured a significant chunk of
the market in the short run. Which of the following positioning strategies did Bateman's
most likely use?
A) more for the same
B) more for less
C) same for less
D) less for much less
E) more for more
Effective ________ pricing involves understanding how much value consumers place
on the benefits they receive from the product and setting a price that captures that value.
A) customer-oriented
B) cost-based
C) time-based
D) competition-oriented
E) marketer-oriented
