In recent years, convenience stores have redesigned their stores to closely focus on
serving their primary target market made up of young, blue-collar men.
Answer:
Convenience products are less frequently purchased consumer products and services
that customers compare carefully on suitability, quality, price, and style.
Answer:
Kiosk marketing connects users around the world to each other and to an amazingly
large information repository.
Answer:
Companies are increasingly adopting high-commission plans to make sure that
salespersons are motivated to build long-term relationships with customers.
Answer:
A service refers to an activity, benefit, or satisfaction offered for sale that is essentially
intangible and does not result in the ownership of anything.
Answer:
With the recent explosion of information technologies, companies are finding it difficult
to generate marketing information in great quantities.
Answer:
As a part of intensive distribution, dealers are expected to refrain from selling the
products of the producers’ competitors.
Answer:
In contrast to distribution centers, storage warehouses are designed to move goods
rather than just house them.
Answer:
Cost-based pricing involves setting prices based on consumer perception of value.
Answer:
Rachel Stein works for the LeBray Beverage Company. She helps define product
specifications and also provides information for evaluating alternatives. Rachel plays
the role of gatekeeper.
Answer:
For few companies, the package itself has become an important promotional medium.
Answer:
A management information system assesses information needs, develops needed
information, and helps decision makers use the information.
Answer:
In the supplier selection stage, the buyer reviews supplier performance.
Answer:
Early adopters are opinion leaders in their communities. They adopt new ideas early but
carefully.
Answer:
Each department in a company can be thought of as a link in the company’s internal
value chain.
Answer:
A company buying a product or service for the first time faces a new task situation.
Answer:
Most companies prefer to compete against strong competitors.
Answer:
The four Cs concept adopts the buyer’s view of the market.
Answer:
Interactive TV (iTV) lets viewers interact with television programming and advertising.
Answer:
In the territorial sales force structure, each salesperson is responsible for selling a
single, exclusive product across different geographical regions.
Answer:
A product position is the way a product is defined by consumers on important attributes.
Answer:
For international researchers, language is a primary obstacle.
Answer:
Social class is based on shared value systems and common life experiences and
situations.
Answer:
The communications process should start with mass media advertising in order to reach
a large number of consumers.
Answer:
The Children’s Online Privacy Protection Act requires online operators targeting
children to post privacy policies on their sites and notify parents about any information
they are gathering and obtain parental consent before collecting information from
children under age 13.
Answer:
Online social networks represent an important avenue to create buzz for marketers.
Answer:
Direct and digital marketing involve targeting broad segments of customers.
Answer:
Less-for-much-less positioning involves meeting consumers’ lower performance or
quality requirements at a much lower price.
Answer:
The federal government may prevent a company from adding products through
acquisitions if acquisition threatens to lessen competition.
Answer:
Online flash sales are used to create buying urgency and make buyers feel lucky to have
gotten in on the deal.
Answer:
Encoding is the process by which the receiver assigns meaning to symbols.
Answer:
Xorbate Blue is a relatively new food supplement that provides both high immediate
satisfaction and high long-run benefits, such as improved energy levels and muscle
tone. Xorbate Blue is best classified as a pleasing product.
Answer:
Internal databases usually can be accessed more quickly and cheaply than other
information sources.
Answer:
A market segment consists of consumers who respond in different ways to a given set
of marketing efforts.
Answer:
Category killers are giant specialty stores that carry a very deep assortment of a
particular line.
Answer:
A marketing Web site interacts with consumers to move them closer to a direct purchase
or other marketing outcome.
Answer:
When The Candy Store sets a low initial price in order to get its “foot in the door” and
to quickly attract a large number of buyers, the company is using market-skimming
pricing.
Answer:
Marketing success requires building relationships with other company departments,
suppliers, marketing intermediaries, competitors, various publics, and customers, which
combine to make up the company’s value delivery network.
Answer:
Which of the following product mix pricing strategies involves pricing additional or
accessory products sold along with the main product?
A) inclusive product pricing
B) exclusive product pricing
C) by-product pricing
D) product bundle pricing
E) optional-product pricing
Answer:
Which of the following is true about Internet-based survey research?
A) The effectiveness of Internet-based survey research is invariably affected by the
interviewer’s bias.
B) Internet-based survey research is less flexible compared to mail questionnaires.
C) Internet-based survey research is characterized by high speed and low costs.
D) Typically, the quantity of data gathered in Internet-based survey research is low.
E) The response rate of Internet-based survey research is lower than that of mail
questionnaires.
Answer:
Which of the following was a result of the Uruguay Round of global WTO trade talks?
A) It increased the world’s remaining merchandise tariffs by 30 percent.
B) It minimized the international protection of copyrights, patents, and trademarks.
C) It extended the WTO to cover trade in agriculture and a wide range of services.
D) It established the NATO for purposes of collective security.
E) It established the EU to reduce trade barriers and increase cooperation among its
members.
Answer:
When a company provides superior value by leading its industry in price and
convenience, it has obtained ________.
A) product leadership
B) focus
C) operational excellence
D) customer intimacy
E) differentiation
Answer:
Which of the following is true about multivariable segmentation systems?
A) Marketers using multiple segmentation bases tend to ignore smaller markets.
B) Marketers often use multiple segmentation bases to control inflation.
C) Multiple segmentation rarely involves the use of demographic data.
D) Multiple segmentation is ineffective in large markets.
E) Multiple segmentation bases help identify smaller, better-defined target groups.
Answer:
If Azerbaijan imported wheat from Romania in exchange for crude oil, and Vietnam
exchanged rice for Philippine fertilizer and coconuts then these scenarios would be
examples of ________.
A) cash transaction
B) compensation
C) buyback
D) blocked currency
E) barter
Answer:
The term demand chain is considered limited because it ________.
A) advocates a make-and-sell view of the market that relies on a responsive supply
network
B) suggests that planning starts with raw materials, productive inputs, and factory
capacity
C) takes a step-by-step, linear view of purchase-production-consumption activities
D) ignores the evolution of the global marketplace
E) overlooks the needs of target customers
Answer:
________ refers to the standard that establishes the amount each salesperson should sell
and how sales should be divided among the company’s products.
A) Conditional sale
B) A bill of sale
C) A sales quota
D) Prospecting
E) Satisficing
Answer:
To overcome problems in focus group interviewing, some companies employ small
groups of consumers who interact directly and informally with product designers
without a focus group moderator present. Such groups are known as ________.
A) classes
B) consumer guilds
C) virtual communities
D) immersion groups
E) primary groups
Answer:
Which of the following consumer buying behaviors is related to conditions of
low-consumer involvement and little significant brand difference?
A) complex buying behavior
B) dissonance-reducing buying behavior
C) habitual buying behavior
D) variety-seeking buying behavior
E) consumer capitalism
Answer:
Refer to the scenario below to answer the following question(s).
Essential-Beauty is a rapidly growing firm that manufactures women’s makeup,
perfumes, and nail-care products. The company has established itself as a high-end
cosmetic product brand available at most national drug stores. In the past, almost all of
the advertising for Essential-Beauty has been in women’s fashion magazines.
The firm is now launching a new line of skin care products, ranging from facial
cleansers to body lotion. These products are designed to be marketed to a broader
audience, so the marketing team is exploring the effectiveness of different promotional
mixes.
Before deciding to launch the new line of products, Essential-Beauty conducted
extensive market research to make sure the products were optimally positioned. A
complete marketing plan including mobile advertising, magazine advertising, event
sponsorship, and sales promotions was established long before the products themselves
were ready for market. In this case, Essential-Beauty was using ________.
A) cost leadership
B) entrepreneurial marketing
C) intrepreneurial marketing
D) formulated marketing
E) operational excellence
Answer:
The research plan ________.
A) provides comprehensive marketing intelligence about competitors
B) outlines sources of existing data and spells out the specific research approaches
C) does not include sampling plans
D) does not include contact methods
E) precedes the definition of research objectives
Answer:
Which of the following is a disadvantage of using information from internal databases?
A) Obtaining information from internal databases is both time-consuming as well as
expensive.
B) It is not possible to verify information obtained from internal databases.
C) Using information from internal databases leads to biased research findings.
D) Internal information may be incomplete or in the wrong form for making marketing
decisions.
E) Internal databases do not support highly sophisticated technologies that make it
difficult to store large volumes of data.
Answer:
Which of the following is a newer digital medium that is used by advertisers to reach
consumers directly?
A) smartphone
B) direct mail
C) newspapers
D) billboards
E) television
Answer:
New technologies most likely lead to ________.
A) economic imbalance in society
B) reduced exports
C) trade deficits
D) an increased demand for unskilled labor
E) new markets and opportunities
Answer:
________ is the practice of tailoring products and marketing programs to suit the tastes
of specific individuals and locations.
A) Mass marketing
B) Trigger-based marketing
C) Differentiated marketing
D) Concentrated marketing
E) Micromarketing
Answer:
Franklin & Marshall College wishes to contact high school seniors at independent
schools in Pennsylvania. Which of the following media would be most effective and
efficient?
A) a Facebook page for the college
B) local newspapers ads throughout the state
C) radio ads throughout the state
D) a direct mail piece sent to selected students
E) billboards throughout the state
Answer:
________ is a measure of the percentage of people in a target market who are exposed
to an ad campaign during a given period of time.
A) Frequency
B) Qualitative value
C) Impact
D) Premium
E) Reach
Answer:
Which of the following is true of the Millennials?
A) They are the children of baby boomers and were born between 1977 and 2000.
B) They control an estimated 70 percent of the disposable income in the U.S.
C) They have reached their peak earning and spending years.
D) They were the first to grow up in the Internet era.
E) They are less immersed in technology than Gen Xers.
Answer:
Which of the following is one of the four consumer perception dimensions used by ad
agency Young & Rubicam to measure brand strength?
A) brand conformance
B) brand consistency
C) brand convenience
D) brand extension
E) brand relevance
Answer:
Companies that use brand ambassadors are most likely involved in ________
marketing.
A) ambush
B) spam
C) buzz
D) viral
E) database
Answer:
Refer to the scenario below to answer the following question(s).
Champion, Inc. is a manufacturer of lunch boxes, school bags, and school stationery.
Charles Payton, the CEO of Champion, hopes to sell the products at a low price to
penetrate the market quickly.
Which of the following best supports a market-penetration strategy for Champion?
A) Production costs increase as sales volume increases.
B) It is very difficult for competitors to enter the market.
C) The cost of producing a smaller volume is negligible.
D) The quality of the products supports high initial prices.
E) The market for the products is highly price sensitive.
Answer:
________ is the process by which people select, organize, and interpret information to
form a meaningful picture of the world.
A) Motivation
B) Perception
C) Dissonance
D) Learning
E) Self-actualization
Answer:
Some products that have entered the decline stage have been cycled back to the growth
stage through ________.
A) repositioning
B) harvesting
C) maintaining
D) pruning
E) expanding
Answer:
The EU helped unify Europe by adopting the euro as a common currency. Adopting a
common currency has caused problems as stronger economic countries have had to
prop up all the following European countries EXCEPT ________.
A) Cyprus
B) Portugal
C) France
D) Greece
E) United States
Answer:
Economic communities are also known as ________.
A) global firms
B) free trade zones
C) management communities
D) production communities
E) open channels
Answer:
How are acquisitions good for society?
A) Acquisitions eliminate barriers to entry.
B) Acquisitions require little government oversight.
C) An acquiring company may improve the efficiency of an acquired company.
D) An industry may become less competitive after an acquisition.
E) The acquisition may result in higher costs, leading to higher prices for consumers.
Answer:
Which of the following is a conventional consumer marketing channel?
A) producer to business distributor to end consumer
B) producer to wholesaler to retailer to end consumer
C) producer to end consumer to business customer
D) producer to retailer
E) producer to business distributor to business customer
Answer:
Buyers with low sales resistance can often be tempted by all the following common
features of infomercials EXCEPT ________.
A) elaborately staged demonstrations
B) “while they last” time limitations
C) free shipping
D) smooth-talking hosts
E) claims of drastic price reductions
Answer:
Maria Ramirez is conducting research to determine consumers’ personal grooming
habits. Because of the personal nature of many of the survey questions, Maria wants to
select the contact method that is most likely to encourage respondents to answer
honestly and that will allow her to easily collect large amounts of data. Which of the
following is best suited to meet Maria’s requirements?
A) mail questionnaires
B) telephone interviews
C) individual interviews
D) focus group interviews
E) immersion group discussions
Answer:
Which type of retailer usually carries more specialty goods at high prices and is more
likely to provide customers with assistance in every phase of the shopping process?
A) self-service retailer
B) limited-service retailer
C) full-service retailer
D) independent retailer
E) off-price retailer
Answer:
In the context of media timing, ________ means scheduling ads unevenly over a given
time period.
A) routing
B) continuity
C) sequencing
D) narrowcasting
E) pulsing
Answer:
________ involves the use of a successful brand name for new or modified products in
a new category.
A) A line extension
B) A product line
C) A brand extension
D) Co-branding
E) Cannibalization
Answer:
Which of the following generations is the most educated to date?
A) Lost Generation
B) Baby boomers
C) Millennials
D) Generation X
E) Silent Generation
Answer:
Cabela’s stores are as much natural history museums for outdoor enthusiasts as they are
retail outlets. This information indicates that Cabela’s is practicing ________.
A) wholesaling
B) nonstore retailing
C) shopper marketing
D) experiential retailing
E) showrooming
Answer:
Briefly compare and contrast the concepts of needs, wants, and demands and provide
examples to illustrate your answer. How do these three concepts relate to marketing
practices?
Answer:
Describe the largest form of online advertising.
Answer:
What are the two advantages of an innovation management system for developing new
products? Provide four strategies for a company to use to establish a successful system.
Answer:
Compare the four different types of industrial structures.
Answer:
Describe the main objectives of informative advertising.
Answer:
When would a marketer most likely use a comparative ad?
Answer:
What is the goal of training salespeople?
Answer:
What is the purpose of benchmarking?
Answer:
Discuss the challenges and advantages of new communication technologies for
marketers as they work to build relationships with their customers.
Answer:
Explain how storing customer information in a database might better prepare carmaker
Kia in customer relationship management.
Answer:
How can a firm benefit from involvement in a contractual VMS?
Answer:
Explain the common problems that international marketing researchers encounter.
Answer:
Define strategic planning. Discuss the steps involved.
Answer:
Why might marketers use market-penetration pricing?
Answer:
Briefly explain local and individual marketing.
Answer:
Distinguish between value-based pricing and cost-based pricing.
Answer: