________ must always be aligned with other elements of a retailer’s strategy in order to
accurately define the value of the product and a retailer’s image.
A. Mobile commerce
B. Transportation
C. Distribution
D. Price
E. Labeling
Answer:
There is an old saying “If you have to ask the price of a yacht, you cannot afford it.”
Products like yachts are most likely to be associated with
A. cross-shopping.
B. competitive parity pricing.
C. target return value.
D. prestige pricing.
E. break-even point pricing.
Answer:
Most banks implement customer retention programs aimed at their best customers.
They do this because they know that retaining customers usually results in
A. a product development growth strategy.
B. an operational advantage.
C. opportunities for diversification.
D. increased long-term profits.
E. more clearly defined market segments.
Answer:
A product is __________ that can be offered through a voluntary marketing exchange.
A. the combination of a firm’s marketing mix
B. the brand associations
C. the category depth
D. a tangible item
E. anything of value to consumers
Answer:
The centerpiece of the marketing environment analysis framework is
A. the economy.
B. corporate partners.
C. culture.
D. competitive intelligence.
E. consumers.
Answer:
Why should marketers be aware of the BRIC countries?
A. They are a microcosm of the rest of the world.
B. They represent almost half the world’s population.
C. They are likely to be the source of most market growth.
D. They have the most dramatic changes in culture and consumer buying patterns.
E. They have stable population growth, which makes them easier to study.
Answer:
After assessing the market growth potential for his company’s baby products in Mexico,
Harmon wanted to evaluate market competitiveness. To do this, Harmon would
consider
A. mass marketing of distribution potential and logistical support.
B. the current size of the market and the expected growth rate.
C. ease of pricing control and number of promotional outlets.
D. the number of competitors, entry barriers, and product substitutes.
E. profitability and customer buying behavior.
Answer:
“Buy one, get one free” is which type of sales promotion?
A. Deal
B. Coupon
C. Sample
D. Sweepstake
E. Rebate
Answer:
Benefits of the traditional retail store as a channel include the ability to
A. provide personalized and meaningful product information.
B. offer a greater selection of products.
C. offer an expanded market presence for all consumers.
D. efficiently collect information about how consumers shop for a particular product.
E. quickly compare prices across multiple channels.
Answer:
Marketers are particularly interested in postpurchase behavior because it
A. involves both compensatory and noncompensatory consumers.
B. offers insights into information search methods.
C. avoids situational conflicts.
D. involves actual rather than potential customers.
E. involves both actual and potential customers.
Answer:
Which statement best describes personal selling?
A. It involves a larger audience than advertising.
B. It is primarily indirect communication.
C. It is primarily informational communication, not persuasive communication.
D. It is the two-way flow of communication between a buyer and a seller.
E. It involves encoding while advertising involves only decoding.
Answer:
__________ are subtle forms of promotion that encourage shopping in retailers’ stores.
A. Electronic signs
B. Store credit cards and gift cards
C. Large stocks of popular national brands
D. Quick response and just-in-time delivery systems
E. Extreme value offers and specialty share of the wallet programs
Answer:
Galena is a new agent for a financial services company. She decides to join the local
chamber of commerce, the local association of businesswomen, and the local chapter of
the United Way organization. Galena is attempting to use __________ to generate
leads.
A. current customers
B. networking
C. trade shows
D. the Internet
E. customer complaints
Answer:
Part of the social trend toward health and wellness is a concern about the increasing
degree of obesity in the United States. Related to this, the text notes the increasing
popularity of
A. flu shots.
B. high-carbohydrate diets.
C. yoga.
D. cooking shows on TV.
E. juicing.
Answer:
College students can be a less __________ market segment because students’ media
habits are quite diverse and firms might have to use a wide variety of media to attract
this segment.
A. substantial
B. perceptive
C. identifiable
D. reachable
E. quantifiable
Answer:
Generally, which of the following media outlets relies on a mix of visual and auditory
techniques and is typically very expensive?
A. Internet
B. newspaper
C. radio
D. television
E. billboards
Answer:
Olga is the sales rep for ATV Communication Systems. She wants to bid on the RFP
issued by Manitoba University for distance learning technology. She knows she will
need to provide considerable information and demonstrations of her firm’s technology
because Manitoba University is in a new buy situation and does not have
A. the money to afford it.
B. any experience with the product it wishes to purchase.
C. anyone interested in the technology.
D. any derived demand for the system.
E. any students who might be interested in distance learning.
Answer:
Americans often equate “bigger” with “better,” and prefer larger cars, TV screens,
homes, even meals. Researchers suspect that in doing so, we are trying to reduce
__________ risk in the consumer decision process.
A. psychological
B. financial
C. performance
D. social
E. physiological
Answer:
Efforts to change a brand’s focus to target new markets or change the image of a brand
are called
A. co-branding.
B. brand extraction.
C. brand collusion.
D. brand repositioning.
E. brand dilution.
Answer:
Another name for a manufacturer’s brand is a(n) __________ brand.
A. systematic
B. extended
C. national
D. premium
E. private-label
Answer:
A local art gallery keeps information on its customers regarding their preferences for
certain artists as well as the style of art that interests them. The gallery uses this
information to inform the customers when new products arrive from their favorite
artists and targets them with special promotions. In this way, the gallery is using
_______ to build loyalty among its customers.
A. value cocreation
B. customer relationship management
C. transactional marketing
D. B2B marketing
E. the supply chain
Answer:
One of the benefits of value-driven marketing is that attention to customer needs and
wants will likely result in
A. higher prices than the market leader charges.
B. increased competition.
C. long-term relationships.
D. strong connections among competing firms in the marketplace.
E. lower prices.
Answer:
Denny is considering the question, “Did our actions have a negative impact on any
stakeholder group?” Denny is addressing marketing ethical issues in the __________
phase of the strategic marketing planning process.
A. planning
B. control
C. implementation
D. brainstorming
E. situation analysis
Answer:
Though Asian Americans comprise only about 6 percent of the U.S. population, they
represent
A. the fastest-growing minority population.
B. the easiest minority group to access.
C. a large proportion of the minorities in the Midwest.
D. a uniform group of consumers with a common language and cultural background.
E. all of these
Answer:
When microwaves were new, they often cost over $300, were huge, and had numerous
settings and options. Brenda and Bart waited, concerned about potential health hazards
and wishing for more choices in the market. By the time they purchased a microwave,
sales of microwaves had leveled off and prices had declined significantly. Brenda and
Bart were part of the ___________ diffusion of innovation group.
A. innovator
B. laggard
C. late majority
D. early majority
E. early adopter
Answer:
Kim wants to maximize sales to the customers who walk into her store. Of the
following, Kim will most likely focus on
A. in-store promotions.
B. billboard and other outdoor advertising.
C. supply chain relationships.
D. off-price wholesaling.
E. mass media advertising.
Answer:
Alex decides to make a donation to the Autism Research Institute. Which component of
Alex’s attitude toward autism research does this represent?
A. behavioral component
B. affective component
C. cognitive component
D. affordable component
E. connected component
Answer:
Yara has identified an attractive potential customer for her biodiesel home power
system. She knows the customer is concerned about the environment and has
considerable financial resources. The customer is also a respected leader among
wealthy environmentalists in the area. Next Yara will
A. evaluate alternative systems available from competitors to see which is best for the
customer.
B. send the customer a list of frequently mentioned objections and responses to each.
C. decide if she wants to contact the customer.
D. establish goals for meeting with the customer.
E. call the customer and offer a first-time discount.
Answer:
According to your text, research has consistently shown that consumers usually rank
which of the four Ps as one of the most important factors in their purchase decisions?
A. Promotion
B. Place
C. Product
D. Perception
E. Price
Answer:
When entering a foreign market, the least risky strategy is
A. franchising.
B. exporting.
C. joint venture.
D. direct investment.
E. strategic alliance.
Answer:
Though advertising experts wish it were true, there is not always a direct link between a
particular marketing communication and
A. supply chain effectiveness.
B. enhanced decoding processes.
C. a consumer’s purchase.
D. the level of noise in the IMC channel.
E. the reach/frequency ratio.
Answer:
When a business customer engages in a straight rebuy, the member of the buying center
most likely to be involved in the purchase is the
A. decider.
B. initiator.
C. influencer.
D. user.
E. buyer.
Answer: