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In the progress toward environmental sustainability, a company must first develop a
sustainability vision, which serves as a guide to the future.
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In the 4Ps of the marketing mix, promotion refers solely to advertising.
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People use the same products and services as they progress through each life-cycle
stage.
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The moral of the product life cycle is that companies must continually innovate;
otherwise, they risk extinction.
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Price escalation is caused by transportation costs, tariffs, importer margin, wholesaler
margin, and retailer margin. As a result, foreign prices are typically lower than domestic
prices for comparable products.
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The primary objective of trade promotions is to motivate salespeople.
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Salespeople represent customers to a company and represent a company to customers.
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A role consists of the activities people are expected to perform according to the people
around them.
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Manufacturers' agents are the most common type of agent wholesaler.
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The Consumer Product Safety Act of 1972 established the Consumer Product Safety
Commission, which has the authority to ban or seize potentially harmful products and
set severe penalties for violation of the law.
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Whereas space is limited in an online catalog, print catalogs can offer an almost
unlimited amount of merchandise.
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In an automated warehouse, orders are fed directly from the retailer's information
system into the wholesaler's, and the items are picked up by mechanical devices and
taken to a shipping platform where they are assembled.
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According to the societal marketing concept, firms and managers should focus
primarily on what marketing efforts are legal and allowed.
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Products include only tangible objects.
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Once the research problems and objectives have been defined, researchers must
determine the exact information needed.
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Historically, conventional distribution channels have provided channel leadership and
have had the power to assign roles and manage conflict.
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Providing samples is the most inexpensive way to introduce a new product.
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When consumers react more favorably to a brand than to a generic or unbranded
version of the same product, the brand is said to have positive brand equity.
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A compensation plan with a larger base-salary component and a smaller commission
component is most effective for driving salespersons to acquire new businesses.
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Reference group influence on consumer buying behavior varies across products and
brands.
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A multinational company may face nontariff trade barriers that include biases against its
bids, restrictive product standards, or excessive host-country regulations.
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Universal Appliance prices its refrigerators at five distinct price levels based on finish,
style, capacity, and features. They range from $799 to $9,500. This is an illustration of
price steps.
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Price reductions from rebates are given to consumers at the point of sale.
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In a straight rebuy, a buyer reorders something without any modifications.
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Target and Kohl's have opened smaller-format stores designed to fit the needs of
densely packed urban neighborhoods. This is an example of geographic segmentation.
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Shopping products are purchased more frequently than convenience products.
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Target return pricing is a variation of break-even pricing.
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People's orientation to their society does not impact their consumption patterns and
attitudes toward the marketplace.
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The business analysis stage is the final step in the new product development process.
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Smaller companies may lack the skills and resources needed to serve larger segments.
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A segment is more attractive if it is easy for new competitors to enter the market.
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According to Maslow's theory, safety and social needs must be fulfilled after
self-actualization needs.
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An advantage of ________ is that they allow real-time merchandising; products and
features can be added or removed as needed, and prices can be adjusted instantly to
match demand.
A) digital catalogs
B) blogs
C) kiosks
D) traditional catalogs
E) mobile apps
Answer:
Which of the following is true of marketing strategies that are being developed in the
new marketing communications model?
A) They are more targeted, social, and engaging.
B) They target much larger customer segments.
C) They rely more on mass-media marketing techniques.
D) They use very little alternative media.
E) They include a greater number of print media ads.
Answer:
Which of the following conditions is most likely essential for implementing a
successful market-skimming pricing strategy for a product?
A) The product's quality and image must support its high price.
B) Lower-priced alternatives can enter the market easily.
C) Low prices promote more market growth than high prices.
D) The product's price matches its manufacturing costs.
E) A low-price position of the product is maintained.
Answer:
The stage in which product ideas are presented to groups of target consumers physically
or symbolically is referred to as ________.
A) concept testing
B) concept development
C) test marketing
D) marketing strategy development
E) crowdsourcing
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Both product development strategies and diversification strategies involve ________.
A) selling a company's current products
B) selling in a company's current market
C) selling in new as well as existing markets
D) developing a new product
E) leaving the current market
Answer:
What are deficient products?
A) products that have neither immediate appeal nor long-run benefits
B) products that give high immediate satisfaction but hurt consumers in the long run
C) products that have low appeal but may benefit consumers in the long run
D) products that are either unsafe or inferior
E) products in the decline stage of the product life cycle
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Which of the following generational groups account for a third of the U.S. population
but half of all consumer spending?
A) Millennial
B) Generation X
C) Generation Z
D) baby boomer
E) Lost Generation
Answer:
Which of the following statements is most likely true about unsought products?
A) Unsought products are consumer products and services that customers buy
frequently.
B) Marketers use aggressive advertising to convince consumers to buy unsought
products.
C) Unsought products are typically purchased for further processing by industrial
manufacturers.
D) Compared to convenience products, unsought products are purchased more
frequently.
E) Unsought products offer many unique characteristics to status-conscious consumers.
Answer:
A strategy for company growth that involves increasing sales to current market
segments without changing the product is known as ________.
A) market development
B) market differentiation
C) market penetration
D) product development
E) diversification
Answer:
Which of the following is true of marketing through blogs?
A) Starting and maintaining blogs is expensive.
B) Blogs are a form of traditional direct marketing.
C) Blogs are typically used to provide automated responses to consumer conversations.
D) Companies should not monitor blogs if they want to reach customers effectively.
E) Blogs are an inexpensive yet personal way to connect with consumers.
Answer:
Coca-Cola Unbottled is an online forum where Coke fans and company insiders can
"look at what's beyond the bottle," sharing posts on everything from new products and
sustainability initiatives to fun and inspiring fan stories. This is an example of a
________.
A) blog
B) catalog
C) search engine
D) spam post
E) viral message
Answer:
A channel arrangement in which two or more companies at one level join together to
follow a new marketing opportunity is referred to as a(n) ________.
A) corporate vertical marketing system
B) contractual vertical marketing system
C) direct marketing system
D) horizontal marketing system
E) administered vertical marketing system
Answer:
A toothpaste manufacturer that bands two products together, selling two for the price of
one, is using which type of consumer promotion tool to build short-term sales?
A) price packs
B) coupons
C) rebates
D) advertising specialties
E) samples
Answer:
The "Stop the Texts. Stop the Wrecks." campaign co-sponsored by the Ad Council and
the National Highway Traffic Safety Administration is an example of a marketing
offering for a(n) ________.
A) product
B) person
C) idea
D) place
E) organization
Answer:
Which of the following is part of the microenvironment of a firm's marketing
environment?
A) the political state of the country in which the firm exists
B) the cultural forces that exist in a society
C) the suppliers who work with the company
D) the technological resources available to the company
E) the different demographic trends in the market
Answer:
Which of the following is a cost-effective mode for shipping large amounts of bulk
products coal, sand, minerals, and forest products over long distances?
A) air carriers
B) water carriers
C) pipelines
D) trucks
E) railroads
Answer:
Backpacks Galore has an online tool that offers a wide variety of backpacks for direct
purchase. The tool even allows customers to select an option to monogram their
backpacks. Which of the following has Backpacks Galore most likely used?
A) phishing site
B) online forum
C) Web blog
D) community Web site
E) marketing Web site
Answer:
Bradley Springs, a chain of superstores, promotes its business by handing out printed
materials which contain lists and descriptions of an assortment of its products. In this
case, the company's promotional strategy is referred to as ________.
A) e-mail marketing
B) telemarketing
C) catalog marketing
D) kiosk marketing
E) viral marketing
Answer:
Which of the following is a psychographic characteristic of a consumer?
A) gender
B) age
C) lifestyle
D) occupation
E) economic status
Answer:
Which of the following best describes product positioning?
A) differentiating a market offering to create superior customer value
B) arranging for a product to occupy a clear, distinctive, and desirable place relative to
competing products in the minds of target consumers
C) identifying consumer needs and creating a product to meet those needs
D) evaluating each market segment's attractiveness and selecting one or more segments
to enter
E) dividing a market into distinct groups of buyers who have different needs,
characteristics, or behaviors
Answer:
Trainstar, a sportswear equipment manufacturer, releases a new line of energy drinks
called VitaZing. The television ad for the energy drink shows people jogging, working
out in a gym, and doing aerobics. The actors then take a break to drink VitaZing, which
visibly re-energizes them and leads them to continue exercising. Which advertising
style is most likely used in the VitaZing ad?
A) scientific evidence
B) technical expertise
C) personality symbol
D) testimonial evidence
E) lifestyle
Answer:
BerryBerry is a fruit juice company that has traditionally sold three varieties of
mixed-fruit juices: DazzleBerry, AquaBerry, and GloBerry. The company wants to add
more products to its product line. In this case, which of the following is an example of
co-branding by BerryBerry?
A) The company introduces BerryBliss, a dried berry snack mix for kids.
B) BerryBerry adds a new fruit juice flavor, TangyBerry.
C) The company introduces a line of flavored milk and yogurt under a new brand name.
D) The company creates a new brand, NatureFresh, for a line of cosmetics based on
fruit flavors and colors.
E) BerryBerry teams up with SFX, a sporting goods company, to introduce a line of
energy bars called BerryBerry SFX.
Answer:
________ are tradition-bound, suspicious of changes, and adopt an innovation only
when it has become something of a tradition itself.
A) Latent innovators
B) Early adopters
C) Early mainstream adopters
D) Lagging adopters
E) Late mainstream adopters
Answer:
________ is the process by which people select, organize, and interpret information to
form a meaningful picture of the world.
A) Retention
B) Motivation
C) Selective perception
D) Perception
E) Learning
Answer:
Olivia is searching for natural almond butter on SquirrelsApp, a mobile Web application
for nut lovers. While browsing the application, a banner appears on the mobile screen
showcasing offers and discounts on jelly and jam products. The banner is best referred
to as a(n) ________.
A) online display advertisement
B) contextual advertisement
C) infomercial
D) phishing scam
E) advertorial
Answer:
Under management contracting, a domestic firm ________.
A) adopts management know-how from a foreign company
B) manufactures the products of a foreign company
C) exports its products to a foreign company
D) provides financial capital to a foreign company
E) exports management services to a foreign company
Answer:
Mattel's American Girl Doll creates special ________ between the dolls and the girls
who adore them.
A) service offerings
B) benefits
C) wants
D) values
E) brand experiences
Answer:
In terms of packaging functions, Tiffany & Co.'s robin egg blue boxes ________.
A) are primarily used to hold and protect products
B) have created confusion in the marketplace
C) create immediate consumer recognition
D) deemphasize the importance of labels
E) stifle brand awareness and recognition
Answer:
Which type of economy consumes most of its output and barters the rest for simple
goods and services?
A) industrial economy
B) developed economy
C) subsistence economy
D) emerging economy
E) raw material exporting economy
Answer:
________ economies are major exporters of manufactured goods, services, and
investment funds.
A) Industrializing
B) Industrial
C) Subsistence
D) Raw material exporting
E) Emerging
Answer:
Which of the following statements about break-even analysis is most likely true?
A) It determines how customer-perceived value changes with value-added pricing.
B) It is a tool used to calculate fixed costs.
C) It is used to determine the maximum price that can be set on a product.
D) It is a tool marketers use to examine the relationship between supply and demand.
E) It fails to consider customer value and the relationship between price and demand.
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Explain how salespeople link a company with its customers.
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How do businesses segment their markets?
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Explain joint ownership with an example. What are its advantages and disadvantages?
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Describe the components of a marketing information system (MIS), and list its three
main functions.
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Differentiate between consumer promotions and trade promotions. Explain the various
tools used in trade promotions.
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Explain the concept of positioning for competitive advantage.
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What are the major external sources of new product ideas? What type of information
can be gathered from each of these sources? How do firms benefit from such
information?
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What is a brand? What are the advantages of branding?
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Three types of shopping centers are regional shopping centers, community shopping
centers, and neighborhood shopping centers or strip malls. Describe how they differ
from each other.
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What external factors affect the pricing decisions made by organizations?
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What are the four elements of salesperson compensation? Give an example to show
how these elements motivate salespeople in different situations.
Answer:
What are regional free trade zones? Explain the advantages and disadvantages of the
European Union (EU).
Answer:
What are the advantages and disadvantages of using a multichannel distribution
system?
Answer:
Explain how wholesalers add value for a producer.
Answer:
Explain integrated logistics management and the different ways through which a
company can achieve it.
Answer:
What criteria should a firm consider before choosing a channel alternative?
Answer:
Describe the process by which companies identify attractive market segments and
choose a target marketing strategy.
Answer:
Define consumerism and environmentalism.
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