The primary purpose of a marketing metric is to
A. assign qualitative values to quantitative data.
B. allow the sharing of information across product lines.
C. measure the quantitative value of a marketing activity.
D. forecast potential product/service opportunities over a period of five years.
E. provide a numerically precise measurement of management judgment for an
industry’s growth.
Answer:
There have been pasta sauces on the market for years. These sauces have always
required the pasta to be precooked before it is mixed with the sauces and other
ingredients. The development of Prego Pasta Bake Sauce that does not require the use
of pre-cooked pasta would be an example of a(n)
A. continuous innovation.
B. discontinuous innovation.
C. evolutionary innovation.
D. disruptive innovation.
E. dynamically continuous innovation.
Answer:
Sustainable development refers to
A. placing restraints on a company’s growth until all ancillary support services are in
place to ensure a new venture’s success.
B. global economies that are slowly moving from an agrarian-base to an industrial base.
C. adhering to worldwide standards for environmental quality and green marketing
practices.
D. marketing efforts to produce, promote, and reclaim environmentally sensitive
products.
E. conducting business in a way that protects the natural environment while making
economic progress.
Answer:
Secondary data are the
A. facts and figures that have already been recorded before the project at hand.
B. facts and figures that are newly collected for the project at hand.
C. facts and figures obtained by watching people mechanically rather than in person.
D. facts and figures obtained by asking people questions through the use of information
technology.
E. conclusions developed from information obtained from a representative sample of a
population.
Answer:
Internet-enabled software permits the practice of Delta Airlines to change its prices in
real time in response to supply and demand conditions. This describes one example of
why consumers shop and buy online, which is __________.
A. convenience
B. choice
C. cost
D. customization
E. control
Answer:
Web 2.0 is a term that describes
A. the functionalities of the World Wide Web that made possible the high degree of
interactivity among users.
B. a technical update of the World Wide Web from Web 1.0.
C. the first Internet browser.
D. the decreased degree of interactivity among users.
E. the final published form of marketer-generated content.
Answer:
Which of the following statements regarding labels is most accurate?
A. Although labels are can carry useful information, the less information
communicated, the better.
B. The brand logo or brand name should always be the largest image on a label.
C. Labels can be very expensive, but they are important because they often are the first
contact the consumer has with the product.
D. The best labels to use on food products are those that can be easily removed to
promote recycling of the package.
E. One penny for every dollar consumers spend on products goes towards packaging
and labeling costs.
Answer:
The decision-making process that organizations use to establish the need for products
and services and identify, evaluate, and choose among alternative brands and suppliers
is referred to as
A. the consumer purchase decision process.
B. the industrial purchase procedure.
C. organizational buying behavior.
D. the offering purchase framework.
E. the sustainable procurement process.
Answer:
A manufacturer using __________ is setting a high price so that quality- or
status-conscious consumers will be attracted to the product and buy it.
A. skimming pricing
B. penetration pricing
C. price lining
D. odd-even pricing
E. prestige pricing
Answer:
When a firm recognizes the critical importance of its employees by attempting to
provide good conditions and opportunities, it sets an employee __________ goal.
A. satisfaction
B. responsibility
C. compensation
D. core value
E. welfare
Answer:
Chip-N-Dough Cookie Company will let you select cookies and put a photo of yourself
on the tin. This is an example of
A. mass customization.
B. multiple marketing.
C. target marketing.
D. product clustering.
E. repositioning.
Answer:
Which of the following statements about the World Trade Organization (WTO) is most
accurate?
A. The WTO is an institution that sets rules governing trade between its members.
B. The WTO acts as an agent in trade negotiations between its members and the
remainder of the world.
C. The 183 member countries of the WTO account for approximately 55 percent of
world trade.
D. The WTO uses panels of trade experts who issue non-binding recommendations.
E. The WTO was formed by the United Nations.
Answer:
At which stage of the product life cycle are microwave ovens?
A. introduction
B. growth
C. maturity
D. decline
E. accelerated development
Answer:
The fifth step in segmenting and targeting markets that link customer needs to
marketing actions is to __________.
A. take marketing actions to reach target markets
B. group potential buyers into segments
C. select target markets
D. group products to be sold into categories
E. develop a market-product grid and estimate size of the overall market
Answer:
Stickiness Marketing Dashboard
To gauge stickiness, companies use the following formula:
A. Average Time Spent per Unique Hourly visitor (minutes) = (Average Visits per
Unique Hourly Visitor) (Average Time Spent per Visit (minutes)).
B. Average Time Spent per Unique Daily visitor (minutes) = (Average Visits per Unique
Daily Visitor) (Average Time Spent per Visit (minutes)).
C. Average Time Spent per Unique Weekly visitor (minutes) = (Average Visits per
Unique Weekly Visitor) (Average Time Spent per Visit (minutes)).
D. Average Time Spent per Unique Yearly visitor (minutes) = (Average Visits per
Unique Yearly Visitor) (Average Time Spent per Visit (minutes)).
E. Average Time Spent per Unique Monthly visitor (minutes) = (Average Visits per
Unique Monthly Visitor) (Average Time Spent per Visit (minutes)).
Answer:
Which of the following statements regarding corporate vertical marketing systems is
most accurate?
A. Corporate vertical marketing systems require all links in the marketing chain to
share title to the goods passed through these firms.
B. Corporate vertical marketing systems can incorporate both forward and backward
integration.
C. Corporate vertical marketing systems increase distribution costs.
D. Corporate vertical marketing systems increase investment increases but decrease
fixed costs.
E. Corporate vertical marketing systems are only effective with low-end consumer
products.
Answer:
Which of the following statements about user-generated content (UGC) is most
accurate?
A. UGC is published on a publicly accessible website or a social networking site.
B. UGC must show a sequential journey through posts made by a user.
C. UGC is intended for commercial profit.
D. UGC is not found on social networking sites.
E. UGC is limited to text-only, 140 character maximum posts due to the limited
bandwidth of Internet service providers.
Answer:
__________ advertising is often used to support the public relations plan or counter
adverse publicity.
A. Institutional
B. Reminder
C. Competitive
D. Pioneering
E. Objective
Answer:
Which statement best describes the most significant difference between a for-profit
organization or a business firm and a nonprofit organization?
A. Business firms operate with larger budgets than nonprofits.
B. Nonprofit organizations do not carry on economic activities while business firms do.
C. Nonprofit organizations are concerned with social issues and business firms are not.
D. Both serve customers, but business firms seek a profit while nonprofit organizations
do not.
E. Nonprofit organizations are publicly owned and business firms are privately owned.
Answer:
People with both the desire and ability to buy a specific offering are referred to as [a(n)]
__________.
A. shoppers
B. customer base
C. market
D. bazaar
E. emporium
Answer:
Under the concept of the diffusion of innovation, consumers who are deliberate
adopters with many informal social contacts are called __________ product adopters.
A. innovators
B. early adopters
C. early majority
D. late majority
E. laggards
Answer:
Which of the following is considered a service?
A. online banking
B. bathing suit
C. silverware
D. washing machine
E. freedom
Answer:
Diversification analysis refers to
A. a technique that seeks opportunities by finding the optimum balance between
marketing efficiencies versus R&D-manufacturing efficiencies.
B. a framework to relate the market segments of potential buyers to products offered or
potential marketing actions by an organization.
C. a technique that helps a firm search for growth opportunities from among current and
new markets as well as current and new products.
D. a technique used to determine the appeal of each SBU or offering and then the
amount of cash, if any, each should receive.
E. a framework that identifies four “generic” strategies to achieve a competitive
advantage.
Answer:
A maximizing current profit objective implies that a company chooses to
A. set targets whose performance can be measured quickly.
B. give up immediate profit in exchange for achieving a higher market share in hopes of
penetrating competitive markets.
C. set a profit goal that is often determined by its board of directors.
D. reduce investment in any further market or product research.
E. set prices based on return on sales.
Answer:
In the feedback loop, feedback refers to
A. the sender’s interpretation of the response that indicates whether the message was
decoded and understood as intended.
B. the impact the message had on the receiver’s knowledge, attitude, or behaviors
during the communications process.
C. a mutually shared understanding and knowledge the sender and receiver apply to a
message so that it can be communicated effectively during the communication process
in the message loop.
D. any unsolicited response from consumers or potential consumers regarding a
company’s message.
E. extraneous factors that can work against effective communication by distorting a
message or the feedback received.
Answer:
A flexible-price policy allows marketers to respond to
A. requests for allowances.
B. threats of discrimination.
C. success measures for the firm’s previous promotions.
D. changes in demand, cost, and competitive factors.
E. inquiries by government agencies.
Answer:
When selecting a brand name, it should: (1) suggest product benefits; (2) be
memorable, distinctive and positive; (3) fit the company or product image; (4)
__________; (5) be simple and emotional; and (6) have favorable phonetic and
semantic associations in other languages.
A. never have a humorous connotation
B. be easy to spell and pronounce
C. be patented
D. not be easily imitated
E. have no legal or regulatory restrictions
Answer:
The BCG has given specific names and descriptions to the four resulting quadrants in
its growth-share matrix based on the amount of cash they generate for or require from
the organization. Dogs are located in which quadrant of the BCG growth-share matrix?
A. upper left quadrant
B. upper right quadrant
C. center of the four quadrants
D. lower right quadrant
E. lower left quadrant
Answer:
The fifth stage in the consumer purchase decision process involves comparing the
product or service purchased by buyers with their expectations to determine whether
they are either satisfied or dissatisfied. What is this stage called?
A. postpurchase behavior
B. alternative evaluation
C. purchase decision
D. problem recognition
E. information search
Answer:
There are two key elements when defining a marketing research problem. One of these
is __________.
A. specify constraints
B. set the research objectives
C. determine how to collect data
D. evaluate previous research results
E. identify data needed for marketing actions
Answer:
Five trends in the past decade have significantly influenced the landscape of global
marketing. One of them is
A. an increase in economic protectionism and a decline free trade.
B. a more aggressive attitude towards initiating international tariffs and quota systems.
C. a decrease in most countries’ GDPs and a renewal of nationalism.
D. the emergence of networked global marketspace.
E. an increase in most countries’ GDPs coupled with an increased degree of consumer
ethnocentrism.
Answer: