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Which of the following stages of the PLC is characterized with high promotional
expenditures that result from an effort to create consumer awareness?
A) growth
B) product development
C) maturity
D) introduction
E) decline
Answer:
Which of the following is the first step taken in the competitive intelligence system?
A) collect published data and information from the field
B) check, interpret, and organize gathered information
C) identify the vital types of competitive information needed
D) respond to inquiries from managers about competitors
E) create a new brand image and marketing concept for the firm
Answer:
________ refers to measuring and evaluating the results of marketing strategies and
plans and taking corrective action to ensure that the objectives are achieved.
A) Marketing control
B) Marketing implementation
C) Satisficing
D) Prospecting
E) Benchmarking
Answer:
Josh received an e-mail stating that he had won a lottery of $500,000 from Lottors
Corporation. The e-mail asked Josh to send his bank account details and social security
number to transfer cash directly to his account. Josh did not remember buying any
lottery tickets, and so was apprehensive about providing his bank details without
verification. Which of the following is illustrated from this scenario?
A) adware
B) viral marketing
C) telemarketing
D) cyberbullying
E) phishing
Answer:
Which of the following strategies would a company most likely use to increase
customer satisfaction?
A) decreasing the variety of offered services
B) divesting
C) lowering prices
D) "firing" unprofitable customers
E) limiting customer experiences with a brand
Answer:
Think Ink is a growing company that sells a variety of inks for home and business
printers. Management at Think Ink has decided to open a sales branch overseas to
handle sales and distribution abroad. Think Ink is engaging in ________.
A) indirect exporting
B) direct exporting
C) licensing
D) joint ownership
E) management contracting
Answer:
Refer to the scenario below to answer the following question(s).
Reliable Tools Company is a manufacturer of hubs and axles for the trailer and heavy
truck industry. Although Reliable Tools only has 15 customers, the company is the sole
supplier of hub and axle components to those customers. Monthly sales at Reliable
Tools are approximately $1 million. "You might say we have all our eggs in one
basket," says owner Arthur Deetz.
It is critical that a competent sales force be maintained in order to nurture those few but
large accounts. Ninety-five percent of Reliable Tools' customers are located in
Michigan, Ohio, and Indiana, which means that travel time to all customers is relatively
short. However, given the nature of the industry, time spent with each customer is
crucial.
Several compensation plans are available to reward and motive Reliable Tool's sales
people. Since generating new leads and new business can be a goal for the sales force,
which compensation plan approach is MOST likely to motivate and direct the
salespeople in that direction?
A) straight commission
B) salary plus bonus
C) straight salary
D) salary plus commission
E) salary, commission, and bonus
Answer:
Which of the following statements is true of direct marketing?
A) Direct marketing is also referred to as referral marketing.
B) Salespersons are compensated for other salespeople they recruit.
C) Direct marketing offers sellers a low-cost alternative for reaching their markets.
D) Direct marketing involves two or more intermediaries.
E) In direct marketing, consumers earn a commission every time they buy a product.
Answer:
________ are consumer products that the consumer either does not know about or
knows about but does not normally think about buying.
A) Specialty products
B) Convenience products
C) Unsought products
D) Shopping products
E) Capital items
Answer:
A company can ________ an SBU by selling it or phasing it out and using the resources
elsewhere.
A) divest
B) promote
C) expand
D) harvest
E) hold
Answer:
The main block of text in a print ad is referred to as the ________.
A) copy
B) testimonial evidence
C) headline
D) slogan
E) message strategy statement
Answer:
A hybrid sales rep ________.
A) works exclusively from remote locations
B) is a modern cross between a field sales rep and an inside rep
C) rarely engages in face-to-face interactions with customers
D) performs sales audits
E) sets the sales objectives of companies
Answer:
The fundamental asset underlying brand equity is ________, the value of customer
relationships that the brand creates.
A) the customer mix
B) customer equity
C) the product experience
D) service variability
E) the service encounter
Answer:
Pacific Fisheries divides its customers into different regional units, such as Asia,
Australia, and the Americas. This is an example of ________ segmentation.
A) demographic
B) psychographic
C) geographic
D) occasion
E) benefit
Answer:
Monica Carey is a conscientious marketing manager. Sometimes it is unclear what
decisions to make when she and her staff are faced with moral dilemmas. To help them
handle such situations, Monica and other managers should create broad guidelines that
everyone in the organization must follow. Which of the following terms best describes
these guidelines?
A) corporate value statements
B) company mission statement
C) company vision statement
D) corporate marketing ethics policies
E) company financial statement
Answer:
Companies using target costing ________.
A) first design a new product and then determine its cost
B) tailor their products to be in line with the marketing mix
C) routinely neglect customer value considerations
D) avoid determining an ideal selling price until analyzing test market results
E) start with an ideal selling price and then target costs that will ensure that the price is
met
Answer:
Cozy Country Market entered the candle business with a unique product: a line of
candles made from soy that produces less smoke and lasts up to twice as long as other
candles. The firm sold this unique product exclusively to a few niches. The candles
were priced at twice the cost charged for normal candles. The product was also sold
online and in unconventional outlets not dominated by market leaders. In this case,
Cozy Country Market was using a(n) ________ against the market leaders.
A) pre-emptive attack
B) guerrilla attack
C) counter offensive attack
D) indirect attack
E) frontal attack
Answer:
Display media includes ________.
A) newspapers
B) magazines
C) television
D) company Web sites
E) billboards
Answer:
Identify three ways that companies can collect secondary data.
Answer:
While developing an effective integrated communication, once the target audience has
been defined, marketers must do all these steps EXCEPT ________.
A) determine the desired response
B) collect feedback
C) choose the media through which to send a message
D) identify potential distractions
E) design a message
Answer:
Why is markup pricing most likely impractical?
A) Calculating costs is complicated due to fluctuations.
B) By tying the price to cost, sellers oversimplify pricing.
C) When all firms in the industry use this pricing method, prices tend to be similar.
D) The method ignores demand and competitor prices.
E) With a standard markup, consumers know when they are being overcharged.
Answer:
Which of the following is one of the other stimuli present in a buyer's environment
apart from a marketing stimuli?
A) product stimuli
B) cultural stimuli
C) price stimuli
D) place stimuli
E) promotion stimuli
Answer:
Refer to the scenario below to answer the following question(s).
The Treble Clef sells music books, musical instruments, and novelty gifts of a musical
nature. In recent years, owner Gary Zahn has served as the local representative of
several musical instrument manufacturers, providing a contact person for three local
schools. He sends a sample of a manufacturer's products to schools that request a
demonstration or presentation. "If we don't have it, we can definitely get it for you,"
Gary tells all Treble Clef visitors and customers.
Most walk-ins are particularly interested in a specific piece of sheet music from a
particular era or just browsing among the hundreds of music knick-knacks in the store.
Gary spends most of his time making presentations to beginners at the local schools and
making biweekly visits to the schools to deliver instruments, make minor repairs, or
pick up instruments to ship to the manufacturer for more complicated repairs.
After establishing a loyal customer base, Gary was convinced that a Treble Clef Web
site could benefit a variety of customers. He began with a simple Web site that provided
information about the store and the types of gifts and services available. The site
received so much response that Gary added a question-and-answer option. Questions
poured in, ranging from "Where can I get sheet music for 'Hello, Dolly'?" to "Do you
carry clarinet reeds?" to "My saxophone needs two new pads. When will you be at
Elmhurst School to repair it?" The Web site is now able to accept credit card orders, and
gifts can even be wrapped and shipped for no extra charge.
"This Web site idea was fantastic!" Gary admitted. "It allows us to be so responsive.
And our novelties sales have doubled!"
Gary sends samples of sheet music to schools for demonstration or presentation. Which
of the following types of marketing is being illustrated from this statement?
A) kiosk marketing
B) viral marketing
C) direct-mail marketing
D) telemarketing
E) direct-response television marketing
Answer:
During the prospecting stage, a salesperson needs to identify the good leads and screen
out the poor ones through a process known as ________.
A) closing
B) satisficing
C) presenting
D) qualifying
E) approaching
Answer:
Refer to the scenario below to answer the following question(s).
Bryant and Anne are the owners of the Good Green Grocer, a small but successful chain
of organic food stores. The organic food sold by Good Green Grocer is of good quality.
Also, it is tasty and has long-term health benefits. Bryant and Anne's business has
expanded as more and more consumers are interested in eating organic foods. What
started as one shop in Vermont has expanded to 15 stores in Vermont, New Hampshire,
Massachusetts, and Maine. Much to their delight, Bryant and Ann have found that many
people are willing to pay a bit more for food that is organically grown.
Sunday ads for the Good Green Grocer run in area newspapers, with special
promotional prices offered for a list of the "Top Ten Take Homes" each week. Regular
customers of the Good Green Grocer know that the promotional items often run out of
stock by mid-week, so the store typically sees its heaviest traffic on Sunday and
Monday.
Some customers believe that the Good Green Grocer purposefully runs weekly
promotional prices on items that are low in stock, leaving most customers who come to
the store hoping for lower prices but unable to buy the out-of-stock sale items. If this
were true, then the Good Green Grocer would most likely be accused of ________.
A) using puffery
B) deceptive pricing
C) deceptive promotions
D) deceptive packaging
E) green washing
Answer:
A detailed version of a new idea stated in meaningful customer terms is called a product
________.
A) solution
B) concept
C) image
D) proposal
E) lining
Answer:
The more formal "business attire" look of corporate dress of the 1980s and 1990s gave
way to the "business casual" look of the 2000s. This is an example of a ________.
A) style
B) fashion
C) fad
D) subculture
E) norm
Answer:
________ are industrial products that aid in the buyer's production or operations,
including installations and accessory equipment.
A) Unsought products
B) Convenience products
C) Capital items
D) Specialty items
E) Repair items
Answer:
Which of the following is true of channel members?
A) They act independent of each other.
B) They play specialized roles in the channel.
C) They are not accountable to other channel members.
D) They play generalized and interchangeable roles in the distribution process.
E) Their competence and cooperation don't affect the company's image or profits.
Answer:
Melissa Price is a member of the sales force at Urban Fashions, a Houston-based
manufacturer of women's apparel. Melissa is preparing for a first meeting with a
wholesaler who is a potential customer. She is learning as much as she can about her
prospect and his organization. Melissa is in the ________ step of the personal selling
process.
A) prospecting
B) qualifying
C) preapproach
D) follow-up
E) demonstration
Answer:
A(n) ________ does not take title to goods and represents buyers or sellers on a more
permanent basis than a broker.
A) full-service wholesaler
B) industrial distributor
C) agent
D) retailer
E) cash-and-carry wholesaler
Answer:
What is the most important consumer buying organization in society?
A) family
B) social class
C) membership group
D) subculture
E) reference group
Answer:
The two key economic factors reflecting a country's attractiveness as a market are its
industrial structure and its ________.
A) communication adaptation
B) nontariff trade barriers
C) exchange controls
D) income distribution
E) transportation systems
Answer:
Which of the following is most likely a result of regulations set up by the Food and
Drug Administration and the Consumer Product Safety Commission?
A) The time between new product ideas and their introduction to the market has
decreased.
B) Annual spending on research and development has decreased.
C) Research costs for companies have risen.
D) Product innovation has significantly declined.
E) Marketers have grown increasingly apathetic toward meeting safety standards.
Answer:
A(n) ________ system involves a single firm setting up two or more marketing
channels to reach one or more customer segments.
A) conventional distribution
B) corporate vertical marketing
C) horizontal marketing
D) administered vertical marketing
E) multichannel distribution
Answer:
A marketer has chosen a multiple-city test market. What can be concluded from this
choice of a multiple-city test market?
Answer:
What is horizontal conflict? Illustrate your answer with an example.
Answer:
Discuss the first two levels of the environmental sustainability portfolio that pay off in
the short term.
Answer:
What are the four major communication functions?
Answer:
Briefly describe the steps in the new product development process.
Answer:
Why is price considered one of the most flexible elements of the marketing mix?
Answer:
Explain why a global company would need to make adjustments to a highly
standardized promotion campaign for different markets.
Answer:
Explain concept testing.
Answer:
How have large retailers such as Walmart changed the dynamics of partnering with
resellers?
Answer:
Discuss the advantages and disadvantages of advertising.
Answer:
Distinguish between market segmentation and market targeting.
Answer:
Briefly explain why marketers need marketing research in addition to competitive
marketing intelligence.
Answer:
Give three examples of shopping products.
Answer:
Why do some consumers resent marketing research?
Answer:
What is a pure monopoly?
Answer:
How does a retailer cooperative function?
Answer:
