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A mission statement should be
A. short-term.
B. inspirational.
C. fact-based.
D. complex.
E. permanent.
Answer:
A skimming pricing policy is likely to be most effective when
A. consumers tend to be price sensitive.
B. it will be easier to set measurable sales unit goals.
C. a lower price will significantly lower fixed costs.
D. consumers perceive your product to be similar to other products on the market.
E. customers are willing to buy immediately at the high initial price.
Answer:
The duty of a firm to maximize profits for its owners or stockholders is referred to as
__________.
A. social responsibility
B. value consciousness
C. benefit marketing
D. profit responsibility
E. stakeholder responsibility
Answer:
Figure 10-5
Figure 10-5 above shows the sequential process of building brand equity. F represents
the fourth and last step, which is to __________.
A. elicit the proper consumer responses to a brand's identity and meaning
B. develop positive brand awareness
C. reward loyal customer behavior
D. establish a brand's meaning in the minds of consumers
E. create a consumer-brand connection
Answer:
Strategy refers to
A. an organization's long-term course of action designed to deliver a unique customer
experience while achieving its goals.
B. an organization's corporate tactical or action plan.
C. statements of an accomplishment of a task to be achieved by a certain time.
D. a statement of the organization's function in society, often identifying its customers,
markets, product, and technologies.
E. a road map for the entire organization for a specified future period of time, such as
one or five years.
Answer:
When Procter & Gamble acquired the Old Spice brand, it decided to reposition the
brand by using a different advertising message to see whether its sales would increase.
The new advertising message is the __________ in this marketing experiment.
A. dependent variable
B. extraneous variable
C. constraint
D. independent variable
E. error variable
Answer:
Schwan's Sales Enterprises of Marshall, Minnesota, markets a full line of frozen foods
in 49 states and parts of Canada using door-to-door salespeople who sell from its
refrigerated trucks. This particular method of distribution is referred to as a(n)
A. indirect channel.
B. facilitated channel.
C. customer-service channel.
D. direct channel.
E. truck-jobber channel.
Answer:
Mechanical, personal, or neuromarketing methods are ways that __________ data can
be collected.
A. virtual
B. primary source
C. hypothetical
D. observational
E. statistical
Answer:
To help advertisers place ads based on their search-engine results, Google developed an
online tool called __________.
A. AdPage
B. AdLeaf
C. AdTag
D. AdWords
E. AdRank
Answer:
Figure 13-5
According to Figure 13-5 above, B represents which stage of the retail life cycle?
A. growth
B. early growth
C. accelerated development
D. maturity
E. expansion
Answer:
Figure 17-2
As shown in Figure 17-2 above, B is the __________ stage in the personal selling
process.
A. presentation
B. approach
C. prospecting
D. follow-up
E. preapproach
Answer:
When marketing channel members are engaged in assorting, storing, sorting, and
transporting products and services, they are performing __________ functions.
A. logistical
B. merchandising
C. facilitating
D. implementation
E. transactional
Answer:
The money a consumer has left after paying taxes to use for necessities such as food,
shelter, clothing, and transportation is referred to as __________.
A. net income
B. disposable income
C. discretionary income
D. household income
E. gross income
Answer:
In trend extrapolation, the forecasting technique that involves using a straight line is
called __________.
A. causal analysis
B. non-parametric regression
C. planning gap analysis
D. infinite dimension
E. linear trend extrapolation
Answer:
An organization's foundation includes which of the following?
A. core values
B. business definition
C. goals
D. strategic levels
E. offerings
Answer:
Disintermediation refers to channel conflict that arises when
A. a channel member severs relationships with other channel members to work for or
with a competing manufacturer.
B. channel conflicts are resolved by a third party.
C. a channel member bypasses another member and sells or buys products direct.
D. channel conflicts are resolved through a binding arbitration from a panel of
representatives from all channel members involved.
E. the entire distribution chain is eliminated, such as when a company sets up its own
wholesaler and retailer network.
Answer:
The four major types of limited-service merchant wholesalers are rack jobbers, cash and
carry wholesalers, truck jobbers, and __________.
A. machine vendors
B. credit line wholesalers
C. drop shippers
D. transport vendors
E. container transport vendors
Answer:
In marketing, the idea of exchange refers to
A. the negotiation phase between the manufacturer and the seller.
B. the financial remuneration (monetary payment) for a product or service.
C. the trade of things of value between buyer and seller so that each is better off after
the trade.
D. the bartering of products and services between non-governmental organizations or
individuals.
E. the practice of swapping products and services for other products and services rather
than for money.
Answer:
VALS Framework
VALS creates profiles of people based on their primary motivation and resources. In the
VALS framework above, A refers to
A. Ideals.
B. Achievement.
C. Self-Expression.
D. Survivors.
E. Innovators.
Answer:
The primary purpose of a competitive advertisement is to
A. tell people what a product is, what it can do, and where it can be found.
B. assure current users they made the right choice.
C. reinforce previous knowledge of a product.
D. promote a specific brand's features and benefits.
E. promote the advantages of one product class over another.
Answer:
Facebook has approximately what fraction of the world's population as customers?
A. one-half
B. one-third
C. one-quarter
D. one-fifth
E. one-seventh
Answer:
Expenses associated with transportation, materials handling and warehousing,
inventory, stockouts (being out of inventory), order processing, and return products
handling are referred to as __________.
A. supplier service cost
B. manufacturing cost
C. total logistics cost
D. social responsibility cost
E. total supply chain cost
Answer:
Which of the following is an inherent weakness of advertising?
A. extremely high expense per exposure
B. difficult to get media cooperation
C. high absolute costs
D. easily duplicated
E. can easily lead to promotion wars
Answer:
Media richness is __________ in face-to-face communication than telephone or e-mail
communications.
A. equal
B. lower
C. higher
D. more updated
E. less updated
Answer:
Apple launched its iPad in 2010 and it, along with its companion iPad mini, have
become the world's bestselling tablet devices with their multitouch user interfaces and
the availability of hundreds of thousands of apps. The product class has experienced
tremendous growth in terms of sales and the addition of formidable competitors such as
Samsung Galaxy, Google Nexus, Sony Xperia, etc. - all vying for market share. In
which stage of the product life cycle are the iPad and other tablets?
A. decline stage
B. commercialization stage
C. accelerated development stage
D. growth stage
E. introduction stage
Answer:
Cannibalization would mostly likely occur if
A. Dell adds high-end speaker systems to its line.
B. General Mills launches Caramel Crunch Cheerios.
C. General Motors markets a motorcycle similar to the Can-Am Spyder Roadster
3-wheel bike.
D. Pillsbury adds boxed sugar to its product mix.
E. Procter & Gamble adds a new line of baby clothing to its Pamper's stable of
products.
Answer:
The greatest marketspace opportunity for marketers lies in its potential for creating
__________.
A. time utility
B. price utility
C. form utility
D. possession utility
E. place utility
Answer:
A disadvantage of the mall intercept interview method is
A. the difficulty in finding qualified interviewers to work at relatively low salaries.
B. the lack of reliability due to changes in customer traffic during holidays.
C. the ill will it creates with shoppers who are in a hurry or looking for a relaxing mall
experience.
D. the people selected may not be representative of the target market.
E. the people only participate to receive something in return, so their answers are often
biased.
Answer:
Social Network Image (A)
Social Network Image (A) above shows the __________ web page for Carmex,
allowing the firm to depict its products as well as send and receive messages about
them from followers.
A. YouTube
B. Pinterest
C. Twitter
D. Facebook
E. LinkedIn
Answer:
An alternative to government control where an industry attempts to police itself is
referred to as
A. consumer protection.
B. self-regulation.
C. industry accountability.
D. voluntary compliance.
E. government-imposed ethical policing.
Answer:
In general, a visionary organization asks which three types of questions to specify its
foundation, set a direction, and formulate strategies?
A. why, when, where
B. what, by whom, how
C. how, when, where
D. why, what, how
E. who, why, when
Answer:
The growing practice of customizing not only a product but also personalizing the
marketing and overall shopping and buying interaction for each customer is referred to
as __________.
A. connectivity
B. customerization
C. customer digitalization
D. online facilitation
E. intermediation
Answer:
A promotional allowance refers to
A. a one-time discount that must be used within a certain time frame or it expires.
B. the cash payments or an extra amount of free goods awarded sellers in the marketing
channel for undertaking certain advertising or selling activities to promote the product.
C. the return of money based on proof of purchase.
D. short-term price reductions when consumer demand takes a significant and
unexpected dip.
E. incentives, such as trips, cruises, jewelry, etc., presented to brand-loyal customers.
Answer:
At which stage of the organizational buying decision process would purchasing and
engineering personnel visit potential suppliers to assess their production capacity?
A. problem recognition
B. information search
C. purchase decision
D. alternative evaluation
E. postpurchase behavior
Answer:
What is the difference between a movement along a demand curve and a shift of a
demand curve?
Answer:
Identify and describe the factors a company should consider in order to do a thorough
cross-cultural analysis. In your answer, define cross-cultural analysis.
Answer:
What is a subculture? Name examples of products targeted at American subcultures.
Answer:
How long is a product life cycle? What determines its length?
Answer:
Explain the difference between full-service and limited-service merchant wholesalers.
List and describe the types of wholesalers that belong in each category.
Answer:
What are the five shapes that a product life cycle can take? For each type, describe (and
as an option, draw) its characteristics.
Answer:
What are the functions performed by intermediaries?
Answer:
Identify and describe the stages of the generalized product life cycle. For each stage,
specify the marketing objective a firm should attempt to achieve.
Answer:
Media buyers use many terms to help select the right media for an advertising
campaign. Define reach, rating, frequency, gross rating points (GRPs), and cost per
thousand (CPM).
Answer:
Explain the difference between a lead, a prospect, and a qualified prospect.
Answer:
For more than 30 years, Starkist put 6.5 ounces of tuna into its regular-sized can. Today,
Starkist puts only 6.125 ounces of tuna into the same-size can but charges the same
price. Georgia-Pacific reduced the content of its Brawny paper towel six-roll pack by 20
percent without lowering the price. There are two sides to the ethical argument about
this practice: that of consumer advocates and that of manufacturers. What is the practice
called and what is the basic position of each side?
Answer:
What are the three types of organizational buying situations or buy classes? Give an
example of each.
Answer:
Explain the difference between primary demand and selective demand.
Answer:
What are the five stages of the organizational buying process? Describe at least three
differences from the consumer buying process.
Answer:
There are three actions a marketing manager must take in the final step of the five-step
marketing research approach. What are they?
Answer:
Would you agree or disagree with the following statement? "It's a lot cheaper and easier
to keep existing customers than to try to find new ones." Explain your answer.
Answer:
Figure 2-5
Based on Figure 2-5 above, identify and explain each of the four market-product
strategies represented by each quadrant (A, B, C, and D) in the diversification analysis
matrix.
Answer:
