When one channel member believes another channel member is engaged in behavior
that prevents it from achieving its goals, it is referred to as __________.
a. distributor dissension
b. marketing channel discord
c. partnership divergence
d. channel conflict
e. channel dissonance
Answer:
The owners of Old School Brand Authentic Antique Foods researched Civil War
records to come up with recipes used in the old-fashioned cookies the company
produces and markets. This statement deals with which part of the marketing mix?
a. product
b. process
c. price
d. place
e. people
Answer:
Items such as large household appliances that require installation and delivery
demonstrate the buyer requirements of __________.
a. information
b. convenience
c. variety
d. pre- or postsale services
e. adaptability
Answer:
Figure 1.
Figure 1. above shows that the average revenue at point “C” is
a. $3.00.
b. $2.50.
c. $2.00.
d. $1.5.
e. $1.0.
Answer:
__________ is a VALS group that would be the most likely to read business and news
magazines such as Fortune and Time.
a. Experiencers
b. Believers
c. Makers
d. Achievers
e. Innovators
Answer:
Four key challenges that package and label designers face include: (1) connecting with
customers; (2) environmental concerns; (3) __________; and (4) cost reduction.
a. health, safety, and security issues
b. competition from global markets
c. patent and trademark issues
d. governmental regulations
e. cultural and societal issues
Answer:
The influencing of people during conversation is referred to as
a. opinion formations.
b. peer persuasion.
c. interpersonal gossip.
d. word of mouth.
e. consumer socialization.
Answer:
Each phase of the strategic marketing process creates its own unique type of output
report. Which of the following would be associated with the implementation phase?
a. performance reviews for key personnel
b. corrective action memos, triggered by comparing results with plans, often from the
firm’s marketing dashboards and metrics
c. sales reports using the firm’s marketing metrics and dashboards
d. action memos that tell who is to do what by when
e. marketing plans that define goals with the relevant metrics and the marketing mix
strategies to achieve them
Answer:
All things being equal, if a firm finds the demand for one of its products is inelastic, it
can increase its total revenues by
a. lowering its price.
b. increasing fixed costs only.
c. increasing variable costs only.
d. increasing both fixed and variable costs.
e. raising its price.
Answer:
A concept that describes the stages a product goes through in the
marketplaceintroduction, growth, maturity, and declineis referred to as the __________.
a. retail life cycle
b. product life cycle
c. marketing mix
d. product growth cycle
e. diffusion of product innovation
Answer:
Individuality and interactivity are important building blocks for buyer-seller
relationships. For these relationships to occur, companies must treat customers as
individuals and empower them to (1) __________________ and (2) have a say in the
kind of products and services they buy, the information they receive, and in some cases,
the prices they pay.
a. demand product quality and timely service
b. shop confidently without fear of identity theft
c. shop confidently with the knowledge of warranty protection
d. influence the timing and extent of the buyer’seller interaction
e. comparison shop with the prices of competitors alongside
Answer:
Direct marketing channels refer to
a. the distribution of goods and services directly from the manufacturer’s production site
to end-users.
b. the traditional chain of distribution from manufacturer to retailer to consumer.
c. the use of agents who represent a single producer and are responsible for the entire
marketing function of that producer.
d. a method of distribution that allows consumers to buy products by interacting with
various advertising media without a face-to-face meeting with a salesperson.
e. a method of distribution that allows consumers to buy products through direct
personal interaction with the manufacturer’s representatives in order to provide more
personalized service.
Answer:
The objective of a __________ is to inform a newspaper, radio station, or other medium
of an idea for a story.
a. infomercial
b. news flash
c. news release
d. news broadcast
e. news summary
Answer:
The marketing of goods and services to companies, governments, or not-for-profit
organizations for use in the creation of goods and services that they can produce and
market to others, is referred to as __________.
a. integrated marketing
b. institutional marketing
c. business marketing
d. reseller marketing
e. organizational marketing
Answer:
Laura was thrilled to begin her new job after she graduated from college. Which of the
following purchases would most likely have the greatest perceived risk for her the day
before she begins the job?
a. a subscription to The Wall Street Journal
b. a smartphone
c. flowers to decorate her new apartment
d. a new outfit for her first day at work
e. a pair of jeans to wear on weekends
Answer:
The New Yorker Ad
Technological advances are difficult to predict. One great advance can replace or
substitute for existing products in a relatively short period of time. As shown The New
Yorker ad above shows, tablet devices, such as the iPad, are likely to replace its weekly
__________.
a. radio broadcast
b. television broadcast
c. magazine
d. e-book
e. online video game
Answer:
Consumers are often concerned that some marketing efforts are invading their privacy.
While this is a legitimate concern to consumers, the explanation by many marketers is
that
a. if you voluntarily put information into a system, then anyone has the right to access
it.
b. current legislation makes all financial transactions part of the Freedom of
Information Act.
c. marketing provides a customer service; if consumers don”t want to participate, they
can avoid shopping where the practice of data sharing takes place.
d. the collection of data from businesses where customers have shopped allows
marketers to satisfy their customers’ needs more effectively by customizing programs
specifically for them.
e. this is a reflection of current times and electronic communication; failure to use these
methods will essentially put a company out of business and ultimately everyone will
suffer.
Answer:
Figure 1.
According to Figure 1. above, the information source most used in 2000 was
a. advertising on television.
b. information on the Internet.
c. advertising in magazines.
d. advertising on the Internet.
e. word of mouth.
Answer:
To help advertisers place ads based on their search-engine results, Google developed an
online tool called __________.
a. AdPage
b. AdLeaf
c. AdRank
d. AdWords
e. AdRank
Answer:
Which of the following most directly explains why pharmaceutical giant Pfizer offered
low-income senior citizens many of its most widely used prescriptions for $15 each per
month?
a. the profit motive since aging baby boomers are a large, profitable market
b. the social responsibility concept
c. the necessity of matching competitors’ actions
d. new regulatory Medicare mandates
e. the mandate by its industry’s code of ethics
Answer:
Figure 1.
Figure 1. above shows there are six stages in the personal selling process (“A” through
“F”) along with the objective(s) of each stage. If the salesperson’s objective is to “obtain
a purchase from the prospect and create a customer,” what stage of the personal selling
process is the salesperson engaged in?
a. preapproach
b. close
c. follow-up
d. approach
e. presentation
Answer:
Sports Port, a motorcycle and fishing boat retailer located in a small northern
Minnesota town, was the world’s largest dealer for Crestliner fishing boats. In order to
meet the demand of his many customers, the owner of Sports Port worked with a wide
variety of channel members, ranging from the manufacturer of the boats to trucking
firms, other retailers, and even detailers. Such a diverse channel of distribution often
resulted in channel conflict. However, due to his strong consumer following, the owner
of Sports Port had the power to resolve disputes between channel members. The owner
of Sports Port served as the __________ in the channel of distribution.
a. wholesaler
b. producer
c. channel spokesperson
d. channel captain
e. channel arbitrator
Answer:
George Zimmer, the CEO of Men’s Wearhouse, is known to the public as the bearded
company pitchman who sells suits and sport coats on TV declaring, “You”ll like the
way you look, I guarantee it!” He also says that to be successful, “You”ve got to have a
company that starts with trust and fairness.” He aims to keep his employees happy and
loyal. Zimmer is attempting to establish a(n) ___________ for Men’s Wearhouse.
a. ethos
b. mission statement
c. organizational culture
d. pathos
e. behavioral protocol
Answer:
Which of the following statements about price elasticity of demand most accurate?
a. The more substitutes a product has, the more likely it is to be price elastic.
b. Price elasticity with inelastic demand must always be greater than 1.
c. Unitary demand represents the relationship between the cash outlay necessary to
purchase a product relative to a person’s disposable income.
d. With inelastic demand, reducing price will result in an increase of total revenue.
e. With inelastic demand, reducing price will result in an increase in total revenue,
although not necessarily an increase in profit.
Answer:
A political ad that incorporates a fear appeal would MOST likely be expressed as
a. religious repercussions after death.
b. disenfranchisement from mainstream society.
c. a lack of patriotic responsibility.
d. a lack of self-respect or self-worth.
e. warnings against the rise of other unpopular ideologies.
Answer:
The sales process at Xerox typically follows the six stages of the personal selling
process. During the third stage, a Xerox sales representative approaches the prospect
and suggests __________.
a. several product alternatives
b. several solutions to perceived problems the salesforce has identified
c. different pricing options
d. a meeting and presentation
e. a visit to corporate headquarters for a complete tour of the facilities
Answer:
In _________, there are many sellers and they each have a similar product, such as
commodities common to agribusinesses.
a. limited competition
b. pure competition
c. oligopoly competition
d. monopolistic competition
e. a monopoly
Answer:
What is the marketing objective for the maturity stage of the product life cycle?
a. harvesting
b. profit
c. stress differentiation
d. gain awareness
e. maintain brand loyalty
Answer:
China has consistently blocked __________ use by its citizens.
a. Internet
b. Twitter
c. gmail
d. Facebook
e. smartphone
Answer:
There are three degrees of distributionone of these being intensive distribution. What is
the extreme opposite of this degree of density?
a. exhaustive distribution
b. thorough distribution
c. exclusive distribution
d. selective distribution
e. concentrated distribution
Answer: