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Regarding sales force compensation methods:
A. combination plans provide some security and some incentive.
B. straight commission avoids the need to consider a sales quota.
C. straight salary provides the most incentive.
D. sales quotas play no role in any of the methods.
E. None of these alternatives is correct.
Answer:
Which of the following is true regarding shopping products?
A. Price is less important in the purchase of heterogeneous shopping products than
homogeneous shopping products.
B. Compared to heterogeneous shopping products, homogeneous shopping products are
usually more standardized.
C. Buyers usually expect more sales help or service with heterogeneous shopping
products.
D. The Internet has become the fast way to comparison shop for homogeneous
shopping products.
E. All of these statements about shopping products are true.
Answer:
The "total profit" approach to evaluating possible product-market strategic plans:
A. is the best approach to use.
B. cannot be used to compare possible plans unless they are very similar.
C. may support a plan that is not the most profitable in the short run.
D. requires only sales forecasts for the life of possible plans.
Answer:
Which of the following components of the marketing mix involves the strategic
decision areas of benefits, features, and packaging?
A. Promotion
B. Place
C. Positioning
D. Price
E. Product
Answer:
Physical distribution
A. should not require trade-offs for managers.
B. means that consumers get products for low prices.
C. includes transportation of products, but logistics does not.
D. is invisible to most consumers in the United States.
E. All of these alternatives are correct.
Answer:
Truck wholesalers:
A. usually sell perishable products that other wholesalers prefer not to carry.
B. don't own the products they sell.
C. usually sell in large quantities, e.g., truckloads.
D. don't stock the products they sell.
E. None of these alternatives is correct for truck wholesalers.
Answer:
With the ___________ approach, the salesperson assumes that a customer faced with a
particular stimulus will say yes to his request for an order.
A. Selling formula
B. Consultative selling
C. Prepared sales
D. Fixed sales
E. Differentiated value
Answer:
At its website, Tylenol identifies the top headache triggers and offers solutions to
headache sufferers. Tylenol is focusing on satisfying what level in the hierarchy of
needs?
A. Physiological needs.
B. Behavioral needs.
C. Personal needs.
D. Safety needs.
E. Social needs.
Answer:
Services
A. are tangible.
B. often have to be produced in the presence of the customer.
C. are easy to store.
D. are usually produced before they are sold.
E. all of these choices are correct.
Answer:
The task method for budgeting marketing expenses:
A. means that a company budgets roughly what competitors budget for each item.
B. budgets last year's marketing expense ratio times FORECASTED sales.
C. might result in very different marketing expenses from year to year.
D. is the most commonly used method of setting budgets.
E. None of these alternatives is correct.
Answer:
Marketing is NOT needed in a ______________ economy.
A. consumer-oriented
B. command
C. pure subsistence
D. market-directed
E. none of these is correct.
Answer:
Which of the following statements about putting together an innovative marketing plan
is True?
A. The marketing plan blends the elements of the marketing mix.
B. The marketing plan forecasts the size of the target market and potential sales.
C. The marketing plan includes implementation plans.
D. The marketing plan spells out some time period.
E. All of these statements about putting together an innovative marketing plan are
correct.
Answer:
The selling formula approach:
A. Starts out much like the consultative selling approach.
B. Makes some general benefit statements to get the customer's attention and interest.
C. Follows a series of logical steps based on some knowledge of the target customer.
D. Becomes identical to the prepared sales presentation as the salesperson approaches
an opportunity to close the sale.
E. All of these are correct for the selling formula approach.
Answer:
It's best to think of "breakthrough opportunities" as opportunities which:
A. appeal to the mass market.
B. will quickly create a whole new industry of firms competing with similar marketing
mixes.
C. help innovators develop hard-to-copy marketing mixes.
D. increase sales.
E. All of these apply to breakthrough opportunities.
Answer:
The Federal Fair Packaging and Labeling Act:
A. was created due to consumer criticism of packaging and labeling.
B. calls on government agencies and industry to try to reduce the number of packaging
sizes.
C. requires that consumer goods be clearly labeled in understandable terms.
D. all of these alternatives are correct.
Answer:
Which of the following is NOT a true statement about traditional channel systems?
A. Channel members make little or no effort to cooperate with each other.
B. Channel members buy and sell from each other.
C. Each channel member does only what it considers to be in its own best interest.
D. Members of these channels have their independence, but they may pay for it too.
E. Control is maintained by economic power and leadership.
Answer:
The economists' view of buyers
A. puts a great deal of emphasis on differences in buying behavior related to individual
differences among consumers.
B. is based on the idea that consumers value time and select the first alternative they
learn about.
C. assumes that consumers always buy the lowest-price alternative.
D. emphasizes psychological variables rather than social influences.
E. None of these answers is correct.
Answer:
Which of the following is NOT retailing?
A. A vacuum cleaner manufacturer hires its own sales force to sell door to door.
B. A private ambulance service takes an accident victim to a hospital and charges him
$100.
C. A group of students sell donuts to people passing by their dorm.
D. A book wholesaler has a mail-order catalog which offers discounts to final
consumers who buy by mail.
E. All of these are examples of retailing.
Answer:
The marketing manager:
A. must make independent decisions and assemble them into a marketing mix.
B. must creatively blend the four Ps so the firm develops the best mix for the target
market.
C. must integrate the ideas of specialists, such as the product manager, advertising
manager, and sales manager.
D. must make sure that each marketing mix decision works well with the others.
E. All of these alternatives are correct.
Answer:
Price reductions given to channel members to encourage them to advertise or otherwise
promote a firm's products locally are:
A. quantity discounts.
B. brokerage allowances.
C. push money allowances.
D. advertising allowances.
E. trade incentives.
Answer:
Organizations that intend to keep their prices fixed as they are content with their market
share and profits will most likely adopt a _____ pricing objective.
A. profit oriented
B. monetary gain oriented
C. sales oriented
D. target return oriented
E. status quo oriented
Answer:
Which of the following statements about social class is False?
A. People in different social classes tend to have different beliefs and feelings.
B. People with the same income level are always in the same social class.
C. Variables such as occupation, education, and type of housing form the basis of
simple approaches for measuring social class.
D. The U.S. class system is far less rigid than those in most other countries.
E. None of these statements about social class is False.
Answer:
Absinth Co. specializes in manufacturing serial ATA cables and optical drives. These
component parts are purchased by Belcom Inc., a hardware manufacturing company,
and are assembled, along with other parts, to manufacture personal computers. Edward
already owns a personal computer, but he wants to upgrade his system. He only
purchases the components he needs to revamp his system from a local dealer. Which of
the following statements is true of this scenario?
A. The market Absinth first introduced its products into is called the aftermarket.
B. The market Edward purchased his component parts from is called the original
equipment market.
C. The components Edward purchased were being sold as consumer goods in the
aftermarket.
D. The products Belcom purchased from Absinth were being sold as components in the
aftermarket.
Answer:
Which of the following statements about customer value is true?
A. It can't be applied in competitive situations.
B. It considers price but no other elements of the marketing mix.
C. It applies to goods but not services.
D. Its emphasis on what the customer sees as the positive things about a marketing mix
means that the negatives are likely to be ignored.
E. None of these statements is true.
Answer:
According to the concept of social responsibility, a firm has a duty to:
A. communicate regularly with the public.
B. satisfy consumer needs at any cost.
C. place profit above all other considerations.
D. place customer satisfaction above all other considerations.
E. conduct business in a way that is good for society as a whole, both now and for the
future.
Answer:
A merchant wholesaler is considering four physical distribution systems and estimates
the total cost and customer service level for each as follows:
The best alternative is:
A. truck.
B. airfreight.
C. rail and warehouse.
D. inland waterways.
E. Cannot be determined without knowing how the target customers feel about the
customer service level.
Answer:
Suzuki's 3 year/36,000 mile new car warranty is part of which marketing mix decision
area?
A. Price
B. Target market
C. Place
D. Product
E. Promotion
Answer:
Which of the following is NOT one of the four variables in a marketing mix?
A. Price
B. Product
C. Promotion
D. Payment
E. Place
Answer:
Marketing research:
A. should be planned by research specialists who understand research techniques better
than marketing managers.
B. is only needed by producers who use long channels of distribution.
C. is not needed by nonprofits because they determine success differently from
for-profits.
D. is not needed by business marketers because their needs are different from consumer
marketers.
E. can get changing information that is not available in the MIS.
Answer:
Which of the following is the BEST example of management thinking during the
"production era"?
A. "We need to make whatever products are easy to produce."
B. "We need to find out what the customer wants."
C. "The more salespeople we have, the more we can sell."
D. "We need to work hard to sell the product to our customers."
E. "If we produce a good product, customers will find us and buy it."
Answer:
Which of the following statements about future trends in marketing is True?
A. Marketers should welcome international competition because it will speed the
adoption of marketing innovations that improve people's lives.
B. Marketers need to recognize the power that technology gives consumers.
C. Marketers need to be aware of their responsibilities to the broader society.
D. Marketers must be sensitive to consumers' rights and privacy.
E. All of these statements about future trends in marketing are True.
Answer:
