Cigarettes and junk food are considered pleasing products.
Answer:
Holiday Inn divided the total customer market into smaller segments and selected the
most promising segments. Deciding what position it wants to occupy in these segments
is called diversification.
Answer:
Telemarketing is infrequently used as a fundraising tool for nonprofit and political
groups.
Answer:
Light users are often a small percentage of a company’s market but account for a high
percentage of total consumption.
Answer:
Corporate image marketing consists of activities undertaken to create, maintain, or
change attitudes or behavior toward particular people.
Answer:
A horizontal marketing system can develop between a company and its competitor.
Answer:
Cold-calling is the best source of new prospects for a salesperson.
Answer:
In sense-of-mission marketing, a company defines its mission in product terms rather
than social terms.
Answer:
A small increase in consumer demand can cause a large increase in business demand.
Answer:
Many companies have dropped formal strategic planning models like the BCG because
they can be difficult, time consuming, and costly to implement.
Answer:
Companies today are moving away from target marketing and toward mass marketing.
Answer:
Intensive distribution occurs when only one intermediary is used by a producer to sell
all its products.
Answer:
Barnacles are customers who are potentially profitable but not loyal.
Answer:
Comparative advertising is a type of persuasive advertising.
Answer:
Support services are an important part of a customer’s overall brand experience.
Answer:
Marketers must practice constant marketing control to ensure that objectives are
attained.
Answer:
Marketers use inbound telephone marketing to sell to customers directly.
Answer:
Social media marketing is a traditional direct marketing tool.
Answer:
A vertical marketing system consists of producers, wholesalers, and retailers acting as a
unified system.
Answer:
The least significant demographic trend in the United States is the changing age
structure of the population.
Answer:
Companies selling perishable products generally prefer direct marketing, which
minimizes delays.
Answer:
John Deere’s sales force working with Lowe’s, Home Depot, independent dealers, and
other channel members to promote their products to final consumers is an example of a
push promotion strategy.
Answer:
The rapid increase in the number of people who telecommute has created a booming
small office/home office market in the United States.
Answer:
When a manufacturer seeks a market for by-products and accepts a price that covers
more than the cost of storing and delivering those by-products, the manufacturer is able
to reduce the main product’s price to make it more competitive.
Answer:
The competitive-parity method of setting promotion budgets prevents promotion wars
between companies.
Answer:
Most firms begin the strategic planning process by developing detailed marketing and
departmental plans that support a company-wide plan.
Answer:
Blogs are online forums where people post their thoughts and other content, usually on
a narrowly defined topic.
Answer:
According to the World Bank, firms from Australia, Denmark, Finland, and Japan
engage in the most corrupt business practices.
Answer:
The federal government has the legal authority to prevent a company from adding
products through acquisitions if the acquisition threatens to lessen competition.
Answer:
A company can assess marketing ROI in terms of standard marketing performance
measures, such as brand awareness, sales, or market share.
Answer:
Direct marketing is the longest distribution channel between a producer and consumer.
Answer:
The 4As framework takes into consideration the buyer’s view of the market.
Answer:
The business buying process tends to be shorter and less formal than the consumer
buying process.
Answer:
Similar consumer needs around the world suggest that a strategy of adapted global
marketing is appropriate for most international firms.
Answer:
A market segment with powerful suppliers controlling the prices is more attractive than
a segment with less powerful suppliers.
Answer:
Big data presents marketers with big opportunities.
Answer:
Direct-response television (DRTV) marketing takes one of two major forms:
direct-response television advertising and interactive TV (iTV) advertising.
Answer:
Marketing dashboards are used to monitor strategic marketing performance.
Answer:
For inbound telephone marketing, the company provides a toll-free phone number so it
can receive orders solicited by television, print ads, direct mail, and catalogs.
Answer:
Today, enlightened companies implement environmental sustainability strategies not
because someone is forcing them to or to reap short-run profits but because it’s the right
thing to do.
Answer:
Which of the following is true of marketing ROI?
A) Marketing ROI uses only those marketing factors that can be measured in dollars.
B) Marketing ROI ignores customer-centered measures of marketing impact, such as
customer acquisition and retention.
C) Marketing ROI is easier to calculate than financial ROI.
D) Marketing ROI cannot be assessed in terms of standard marketing performance
measures, such as brand awareness, sales, or market share.
E) Marketing ROI measures the profits generated by investments in marketing
activities.
Answer:
Which of the following is a traditional direct marketing tool?
A) catalog
B) e-mail
C) blog
D) online advertisement
E) Web site
Answer:
The first part of a marketing strategy statement describes the ________ of a new
product.
A) planned price and distribution
B) marketing budget
C) marketing mix strategy
D) target market, planned value proposition, and sales goals
E) planned long-run sales and market share
Answer:
Department stores are most likely characterized by ________.
A) narrow product lines
B) specialty goods and services
C) predatory pricing strategies
D) deep assortments of luxury brands
E) wide varieties of product lines
Answer:
The ________ method of setting an advertising budget typically overlooks how
promotion affects sales.
A) affordable
B) percentage-of-sales
C) objective-and-task
D) competitive parity
E) adaptive-control
Answer:
The ultimate aim of customer relationship management is to ________.
A) produce high customer equity
B) divide markets into distinct segments
C) evaluate customer lifetime value
D) turn ‘strangers” into “butterflies”
E) evaluate current sales share
Answer:
Changes in variables, such as income, cost of living, interest rates, and savings and
borrowing patterns most likely reflect changes in the ________ environment of a
company.
A) economic
B) natural
C) demographic
D) political
E) cultural
Answer:
Primary data can usually be obtained more quickly and at a lower cost than secondary
data.
Answer:
True Value Hardware relies on its ________ to coordinate and carry out activities that
provide shoppers with the hardware and home improvement products they need at
affordable prices along with top-notch customer service.
A) suppliers
B) internal value chain
C) distributors
D) portfolio network
E) internal supply chain
Answer:
Which of the following is most likely a true statement about generational groups in the
United States?
A) The Millennials account for nearly half of all discretionary consumer spending in the
United States.
B) The Generation Xers are the most educated generation to date.
C) The baby boomers comprise the poorest segment of the population.
D) The Generation Xers form the largest segment of the population.
E) The Millennials are the most financially secure generation.
Answer:
Which of the following is true of a good marketing information system?
A) It focuses solely on maximizing the amount of data generated irrespective of
relevance.
B) It typically uses only external sources of data in marketing research.
C) It balances the information that a firm would like to have against what they really
need.
D) It develops a way of offering information about future plans of action that might not
be very feasible or cost-effective.
E) It eliminates the time-consuming task of assessing the information needs of a firm.
Answer:
A company launching a new product must first decide ________.
A) where to launch the product
B) the sample size of the market
C) when to launch the product
D) the viability of a global launch
E) the budget for print advertising
Answer:
Which of the following is an online tool designed to engage customers and move them
closer to a direct purchase or other marketing outcome?
A) direct mail
B) infomercial
C) printed catalogue
D) branded community Web site
E) marketing Web site
Answer:
Product mix width refers to the ________.
A) number of versions offered for each product in the line
B) ways in which the various product lines are related
C) number of different product lines the company carries
D) total number of items a company carries within its product lines
E) total market share captured by the entire product line
Answer:
Which of the following costs is most likely associated with commercialization?
A) building or renting a manufacturing facility
B) paying groups of consumers for participating in crowdsourcing activities
C) determining a product’s planned price, distribution, and marketing budget
D) developing a prototype of a product
E) using simulated tests to measure market capacity
Answer:
As with other types of marketers, a primary goal in wholesaling is to ________.
A) match competitors’ strategies
B) establish a greater number of locations
C) build value-adding customer relationships
D) hold prices constant
E) maintain the status quo
Answer:
Which of the following is a structured method of online research where marketers
require direct responses from customers?
A) online behavioral targeting
B) social media tracking
C) online listening
D) online surveys
E) blog analysis
Answer:
Compared to adapted global marketing, standardized global marketing ________.
A) adjusts promotional efforts to address cultural differences in target markets
B) results in additional marketing and manufacturing costs
C) relies on social media to develop customer relationships
D) usually results in diluted brand power over time
E) uses the same marketing mix worldwide
Answer:
Which of the following has resulted from the increased educational levels of the U.S.
population?
A) lower acceptance of technological changes
B) greater job growth for professional workers
C) higher number of manufacturing jobs
D) lower mobility of the U.S. population
E) lower number of women in the workforce
Answer:
The boom in online, mobile, and social media has created a new set of social and
ethical issues for companies. Their greatest concern involves ________.
A) failure to provide value-priced products for online customers
B) protecting the privacy of knowing and unknowing customers
C) providing too many alternative products online which confuses customers
D) rarely following the marketing orientation when devising promotional offers online
E) failing to reach their target customers through online marketing
Answer:
The challenge posed by ________ products is to add some agreeable qualities so that
they will become more desirable in the consumers’ minds.
A) salutary
B) desirable
C) pleasing
D) durable
E) aesthetic
Answer:
________ outlines sources of existing data as well as specific research approaches,
sampling plans, and measurement instruments.
A) The research plan
B) The data collection plan
C) The main research objective
D) The problem definition
E) The research findings
Answer:
Various government agencies have launched campaigns to encourage energy
conservation and concern for the environment as well as discourage smoking, illegal
drug use, and obesity. This illustrates ________ marketing.
A) ambush
B) social
C) for-profit
D) consumer-generated
E) multi-level
Answer:
Which type of retailer typically carries deep product assortments of narrow product
lines?
A) self-service retailers
B) specialty stores
C) warehouse clubs
D) discount stores
E) factory outlets
Answer:
Loretta Inc., a U.S.-based watch manufacturer, sells its products in France, China,
Russia, and India. To manage sales, Loretta appoints a number of sales representatives
to each location. Sales representatives report to area managers, and area managers
coordinate sales in their respective areas before reporting to regional managers. Loretta
has most likely adopted a ________ sales-force structure.
A) customer
B) product
C) complex
D) distributor
E) territorial
Answer:
Kimlee, a food manufacturer based in China, recognizes the immense demand for
noodles in the Australian market. Kimlee forms a new business venture to manufacture
instant noodles and decides to share possession and control of the new business with a
local food processing company. In this case, Kimlee has entered a foreign market
through ________.
A) licensing
B) contract manufacturing
C) direct investment
D) joint ownership
E) management contracting
Answer:
The first Target store opened in 1962. Its initial strategy was to set prices low to attract
a large number of buyers quickly and win a large market share. This is referred to as
________.
A) market-skimming pricing
B) market-penetration pricing
C) value-added pricing
D) target costing
E) deceptive pricing
Answer:
Which of the following represents a change in the technological environment of a
marketing firm?
A) increased use of cause-related marketing
B) increased use of RFID systems to track products
C) increased need to comply with environmental regulations
D) increased use of value marketing techniques and promotions
E) increased need to engage in mass marketing over market segmentation
Answer:
Pediacertain Pet Supplies, a pet-food company, divides the pet market according to the
pet owners’ gender, occupation, income, and family life cycle. In this case, which of the
following variables has the company used for market segmentation?
A) geographic
B) psychographic
C) benefit
D) demographic
E) occasion
Answer:
The citizen-action publics in a company’s marketing environment include ________.
A) employees and managers of the company
B) stockholders and investment analysts
C) government trade agencies
D) environmental groups
E) news channels
Answer:
A marketing firm has been assigned the task of watching trends in spending, personal
income, savings, and interest rates. The marketing firm is most likely gathering
information about consumers’ ________.
A) social network usage rates
B) economic situations
C) occupational needs
D) purchasing perceptions
E) brand affiliations
Answer:
________ refers to marketing via the Internet using company Web sites, online
advertising and promotions, e-mail marketing, online video, and blogs.
A) Digital marketing
B) Social media marketing
C) Direct marketing
D) Online marketing
E) Multimedia marketing
Answer:
Annie Carson, the owner of Annie’s Dairy Bar, is considering opening a second
location. She evaluates several potential sites by assessing traffic patterns,
neighborhood conditions, and the locations of competitors. Annie is engaging in
________.
A) observational research
B) focus groups
C) personal interviews
D) Internet-based surveys
E) experimental research
Answer:
“Informing the target market about a price change for a signature cookie dough product
through a national TV campaign within three months” is an example of a(n) ________
objective.
A) reminder
B) comparative
C) informative
D) advertising
E) persuasive
Answer:
What is retailing? Explain the concept of shopper marketing.
Answer:
Describe the three different types of wholesalers.
Answer:
What is test marketing? What role does it play in new product development? What
factors do firms consider when determining whether or not to conduct test marketing?
Answer:
Describe how marketers use multiple-segmenting bases to their advantage.
Answer:
Explain what happens during the business analysis stage of new product development.
Answer:
Describe a few ways in which a marketer can engage in socially responsible target
marketing.
Answer:
Briefly describe the characteristics of effective market segments.
Answer:
Why do international markets need to be segmented?
Answer:
What is segmented pricing? Briefly describe the different types of segmented pricing.
Answer:
Describe the various categories of consumer products with examples.
Answer:
RTF Developers is a construction company with a presence in several countries. The
company currently organizes its marketing department using a functional system of
organization, but this seems inefficient. Explain why a geographic organization would
benefit the company more than a functional organization.
Answer:
Explain, with examples, the different types of relationships that a company can build
with its customers.
Answer:
Compare and contrast specialty stores and convenience stores.
Answer:
Using suitable examples, briefly compare and contrast the concepts of needs, wants,
and demands. Discuss how these concepts relate to marketing practices.
Answer:
List and explain some of the reasons why new products fail.
Answer:
What is the difference between price-fixing and predatory pricing? How do
governments discourage firms from engaging in such practices?
Answer:
Identify and describe the stages in the adoption process of a new product.
Answer: