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Which of the following statements is not characteristic of a good?
A. Goods are tangible items that can be touched.
B. Goods can be produced and then stored to sell at some future time.
C. Goods are typically manufactured at the location where the customer makes the
purchase.
D. Goods can be owned by the customer.
E. Goods are typically mass-produced.
Answer:
Blue Ridge Weavers wants to set its selling price on an item so that the retail list price
will be $50-taking into account the usual markups of 10 percent at wholesale and 30
percent at retail. At what price should Blue Ridge Weavers sell the item?
A. $32.50
B. $31.50
C. $35.00
D. $34.00
E. $38.00
Answer:
Traditional channel systems:
A. Are characterized by strong ties between channel members.
B. Exhibit little cooperation between channel members.
C. Have channel members that look out for each other's best interest.
D. Have members that go to great lengths to cooperate with each other.
E. Usually feature a strong product-market commitment that is shared by all of the
members of the channel.
Answer:
Which of the following is the BEST example of the micro-macro dilemma?
A. Many consumers buy imported cars, even though they say they like American cars
better.
B. High performance cars are fun to drive but may be dangerous to others.
C. Buying an imported car may cost buyers more to buy now but may have better resale
value later.
D. A fuel-efficient car may cost more to buy but less to operate.
E. The economy may be growing, but many people still are not able to buy a new car.
Answer:
Which of the following would be a type of advertising used in the awareness stage of
the adoption process?
A. Flash ads
B. Testimonials
C. Teaser campaigns
D. Point-of-purchase ads
E. Persuasive copy
Answer:
Skye West is a manufacturers' agent. Skye is most likely to have responsibilities like
those of
A. a wholesaler's order taker.
B. a producer's order taker.
C. a producer's supporting salesperson.
D. a retail order taker.
E. a producer's order getter.
Answer:
A _____ is a type of conventional limited-line store that is usually small and has a
distinct "personality."
A. general store
B. mass-merchandising shop
C. specialty shop
D. department store
E. hypermarket
Answer:
Which of the following is NOT an organizational buyer?
A. The Red Cross buying office supplies.
B. A sporting goods retailer buying skis.
C. A law office buying a background music service.
D. A country club buying tennis balls for a tournament.
E. All of these are organizational buyers.
Answer:
Which of the following is NOT included in a marketing plan?
A. The control procedures to be used
B. The costs involved
C. The results expected
D. What marketing mix is to be offered
E. All of these should be included in a marketing plan.
Answer:
Many Internet retailing pioneers that had great ideas are not around today. Which of the
following is a major reason for the failure of such Internet retailers?
A. Failure to develop whole marketing strategies that met customer needs
B. Widespread acceptance of the mass-merchandising concept by brick-and-mortar
stores
C. Failure to maintain lower operating costs than brick-and-mortar stores
D. Growth in popularity of efficient delivery services from UPS and FedEx
E. Low consumer purchasing power
Answer:
Caught between the threat of antitrust action, stockholder demands, and public interest
groups, some large corporations set a(an) ______________ pricing objective.
A. increasing target return
B. "aggressive" competition
C. profit maximization
D. increasing market share
E. satisfactory long-run target return
Answer:
Use this information for question that refer to the Super Gaming Company and
Accessories (SGCA) case.
Kayla Jurgenson, marketing manager for Super Gaming Computers and Accessories
(SGCA), is reviewing her company's plans for the coming year.
SGCA sells its products through retail computer dealers and some specialty gaming
stores. Currently, SGCA is carried in 25 percent of all retail computer stores nationwide,
but in California is carried in only 10 percent of stores. So, Kayla has set an objective of
being in 25% of all retail computer stores in California within one year.
SGCA plans to introduce a new SuperDuperGamer model with special features that fits
its target market of teen and young adult gamers. The SuperDuperGamer uses a new
technology and is expected to be a breakthrough product, but it will be important to
build awareness for it to succeed. So, the advertising objective is for 40% of SGCA's
target market to be aware of the new SuperDuperGamer model within 3 months. SGCA
also wants to help its retailers reduce their current stock of SuperGamer computers
before the new model comes out in a month. The SuperGamer has been on the market
for two years and has been a top seller in the category. SGCA's advertising objective for
the SuperGamer computer is to reduce current dealer stock by 80% within the next
month.
SGCA is also introducing a SuperEnhancer sound card, which is designed to
significantly enhance the game-playing experience with older computers. Research with
gamers show that it is very well received, so the advertising objective for the
SuperEnhancer sound card is to gain 40% market share among all gaming-specific
sound cards in the next year. To help achieve that objective, Jurgenson is planning to
use an ad that shows the sound card and a game player being knocked off his chair by
the sound. The headline on the ad reads, "9 Out of 10 Gamers Say that the
SuperEnhancer Sound Beats All Others!"
In making her decisions about media, Jurgenson has to:
A. decide which target market(s) should be reached.
B. know the costs of alternative media.
C. decide on promotion objectives.
D. decide what must be said.
E. all of these alternatives are correct.
Answer:
The railroad service which picks up truck trailers at a producer's location, loads them
onto rail flatcars, hauls them close to the customer, and then delivers them to the buyer's
door is:
A. truck service.
B. fast freight.
C. trailer service.
D. piggyback service.
E. pool car service.
Answer:
Missionary selling:
A. is another name for major accounts selling.
B. is the performance of personal selling activities for a nonprofit organization.
C. is the same as prospecting.
D. is often an entry position for higher level sales and marketing jobs.
E. is typically only used with a firm's largest or most important customers.
Answer:
Branding is good for some CONSUMERS because it:
A. makes shopping easier.
B. provides dependable guides to product quality.
C. helps assure regular satisfaction.
D. connects the product with the benefits the consumer expects.
E. All of these alternatives are correct.
Answer:
Regarding the new-product development process:
A. the hypothesis tested is that the new product idea will not be profitable.
B. a gradual "roll-out" of the product-region by region-allows for more market testing.
C. concept tests are done before any physical models are produced.
D. likely ROI should be estimated throughout the process to force the new idea to prove
itself.
E. All of these alternatives are correct.
Answer:
The languages people speak, the type of education they have, and their religious beliefs
are examples of the
A. political environment.
B. economic environment.
C. cultural and social environment.
D. legal environment.
E. technological environment.
Answer:
A company may be inclined to use both direct and indirect channels of distribution:
A. When serving multiple target markets.
B. When it wants total control over the marketing mix.
C. When suitable channel partners are hard to find.
D. When selling to business customers.
E. When selling to final customers.
Answer:
A company that sells a new type of meat grinder to big supermarket chains needs
someone to train workers in the stores' meat departments to use the machine properly
and efficiently. What type of salesperson is this?
A. Order getter
B. Missionary salesperson
C. New-account salesperson
D. Order taker
E. Consultative salesperson
Answer:
Retail stores that sell 'seconds" and "irregular" products at discount prices are
flourishing all over the country. These stores are needed because of what regrouping
activity?
A. Accumulating
B. Bulk-breaking
C. Sorting
D. Assorting
E. None of these is a good answer
Answer:
Fresh Farm Produce Co. has examined transportation costs and found that shipping its
fruits and vegetables by rail to distant markets would cost them only $89,000, while
airfreight would cost $250,000. Because the costs of the actual fruits and vegetables are
the same for each transportation mode, Fresh Farm Produce should
A. try to determine other physical distribution costs before deciding on whether to use
airfreight.
B. immediately switch to rail to save money.
C. conduct marketing research to determine which fruits and vegetables customers want
most.
D. immediately switch to airfreight because it is clearly a faster mode of transportation.
E. ship with airfreight and store the fruits and vegetables in warehouses.
Answer:
Which of the following would NOT be a marketing strength for a local coffee shop?
A. A well-recognized brand.
B. A patented coffee blend.
C. Established relations with local businesses.
D. Access to large amounts of capital from a long-term relationship with a local bank.
E. Counter staff that knows and understands customer preferences.
Answer:
Regarding railroads,
A. full carload rates are lower than less-than-carload rates.
B. rail shipments usually move much faster than truck shipments.
C. they transport the same products in less-than-carload lots faster than full carload
shipments.
D. they handle products only if they are shipped in full carload lots.
E. None of these alternatives is true.
Answer:
_________ covers all of the activities involved in the sale of products to final
consumers.
A. Distributing
B. Retailing
C. Manufacturing
D. Wholesaling
E. Marketing
Answer:
The big problem with average-cost pricing is that:
A. fixed costs are hard to estimate.
B. it ignores the firm's demand curve.
C. it doesn't consider the effect of variable costs.
D. there is no way to include a desired profit per unit.
E. None of these alternatives is correct.
Answer:
Natalie St. John, brand manager for a cookie producer, says that she is looking for a
"full service" advertising agency. Apparently, in addition to having the agency purchase
media, she wants an agency to help
A. plan package development.
B. develop sales promotions.
C. provide market research.
D. create the actual advertisements.
E. A full service agency might help with any of these.
Answer:
Regarding product life cycles, which is true?
A. Industry sales and profits tend to reach their maximum during the market maturity
stage.
B. Product life cycles describe industry sales and profits within some product-market.
C. Product life cycles are generally getting shorter and cannot be extended.
D. Every new brand must pass through all four stages of the product life cycle.
E. All of these alternatives are TRUE.
Answer:
Supercenters are also known as
A. hypermarkets.
B. mass-merchandisers.
C. discount houses.
D. supermarkets.
E. single-line mass merchandisers.
Answer:
The ______ says that producers must provide a clearly written warranty if they choose
to offer any warranty.
A. Norris-LaGuardia Act
B. Lanham Act
C. Wagner Act
D. Magnuson-Moss Act
E. Food and Drug Act
Answer:
Which of the following statements about agent wholesalers is FALSE?
A. Agent wholesalers based in a foreign market can be helpful in working through
government red tape because they know the local business customs.
B. Export and import brokers bring together buyers and sellers from different countries.
C. Manufacturers' agents can call on international customers at no cost to the producer
until something sells.
D. Export and import agents are basically selling agents who specialize in international
trade.
Answer:
A disadvantage of direct-to-customer channels is that
A. most organizational buyers are used to relying on intermediaries to serve as their
purchasing advisors.
B. they require producers to shift many marketing functions to others.
C. this approach makes it hard to achieve coordination among the required marketing
activities.
D. they make it more difficult to get information about changing needs of the market.
E. None of these is a disadvantage of direct-to-customer channels.
Answer:
Selecting the most effective advertising media depends on the:
A. nature of the media-i.e. reach, frequency, impact and cost.
B. firm's target market.
C. funds available for advertising.
D. firm's promotion objectives.
E. All of these alternatives are correct.
Answer:
