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Getting reactions from customers about how well a new-product idea fits their needs is
A. concept testing.
B. target marketing.
C. screening.
D. brand positioning.
E. product liability.
Answer:
A firm which makes stereo radios and CD players for car manufacturers who install
them directly in their new cars is selling:
A. component parts.
B. supplies.
C. component materials.
D. installations.
E. accessory equipment.
Answer:
Use this information to answer the following question that refer to the EI (Electech Inc.)
case.
Electech, Inc. (EI) produces a line of semiconductors for electronics products
manufacturers. These items range in price from $5-$100 and are used in products the
buyer is producing. EI also designs and builds computer networking equipment. The
prices of these items range from $5,000 to $100,000. These are used to control
production equipment. Usually, they are custom-made to the specifications of the
buyer-the firm that will use the product in its own production process.
EI sells nationally through independent sales reps-paid on commission-who work in the
large industrial centers across the country. EI is more concerned with the quality of
these reps than with the number of them. All of them also sell other lines. EI also uses
five full-time salaried salespeople who work out of its corporate headquarters under a
sales manager.
The home office salespeople are "technical specialists" who sell almost all the
networking equipment, while the "reps" mostly sell the semiconductors. Sometimes,
however, the reps will send in leads to customers who want networking equipment. EI
also sells some of its semiconductors through a Los Angeles wholesaler who carries
stock for West Coast customers.
There are many producers and importers of semiconductors in the U.S.-but several
firms have captured large shares of the networking equipment market. EI has held its
own, and in fact, over the past five years has increased its market share of these
products to over 25 percent-because of its better technical designs.
Industry-wide prices of the more or less homogeneous semiconductors have been
forced further and further down over the last seven years-as have industry profits. The
price of networking equipment is set by adding a standard markup percent to the direct
cost of the items-for overhead and for profit. Following industry practice, all prices are
quoted at the seller's factory.
EI publishes a catalog, which is revised periodically. Also, it exhibits in most equipment
trade shows.
What promotion method is EI using when it publishes catalogs, and exhibits in trade
shows?
A. Sales promotion
B. Publicity
C. Advertising
D. Personal Selling
Answer:
Services, as opposed to physical products:
A. May be stored for later use.
B. Are usually sold first, and then produced.
C. Are usually produced and consumed in different time frames.
D. Never require the presence of the consumer in order to be performed.
E. None of these alternatives is correct.
Answer:
Which of the following countries have the LOWEST GNI PER CAPITA?
A. Japan and Switzerland
B. Mexico and Spain
C. Ethiopia and Kenya
D. India and Pakistan
E. Germany and the United States
Answer:
Small farmers in the mountains of Peru pick coffee beans by hand, obtaining only a
bucket a day. Then they sell them to buyers who put the beans in large bags to be
shipped to processors. This regrouping activity is called:
A. Assorting
B. Wholesaling
C. Bulk-breaking
D. Sorting
E. Accumulating
Answer:
Which section of a formal marketing plan for a new product is most directly related to
deciding the markup chain in the channel of distribution for a new product?
A. Packaging
B. Customer analysis
C. Price
D. Implementation and control
E. Place
Answer:
A business website owned and maintained by a firm is a form of earned media.
Answer:
A _________ aims at a carefully defined target market by offering a unique product
assortment, knowledgeable salesclerks, and better service.
A. general store
B. mass-merchandising shop
C. specialty shop
D. department store
E. convenience store
Answer:
Use this information to answer the following question that refer to the EI (Electech Inc.)
case.
Electech, Inc. (EI) produces a line of semiconductors for electronics products
manufacturers. These items range in price from $5-$100 and are used in products the
buyer is producing. EI also designs and builds computer networking equipment. The
prices of these items range from $5,000 to $100,000. These are used to control
production equipment. Usually, they are custom-made to the specifications of the
buyer-the firm that will use the product in its own production process.
EI sells nationally through independent sales reps-paid on commission-who work in the
large industrial centers across the country. EI is more concerned with the quality of
these reps than with the number of them. All of them also sell other lines. EI also uses
five full-time salaried salespeople who work out of its corporate headquarters under a
sales manager.
The home office salespeople are "technical specialists" who sell almost all the
networking equipment, while the "reps" mostly sell the semiconductors. Sometimes,
however, the reps will send in leads to customers who want networking equipment. EI
also sells some of its semiconductors through a Los Angeles wholesaler who carries
stock for West Coast customers.
There are many producers and importers of semiconductors in the U.S.-but several
firms have captured large shares of the networking equipment market. EI has held its
own, and in fact, over the past five years has increased its market share of these
products to over 25 percent-because of its better technical designs.
Industry-wide prices of the more or less homogeneous semiconductors have been
forced further and further down over the last seven years-as have industry profits. The
price of networking equipment is set by adding a standard markup percent to the direct
cost of the items-for overhead and for profit. Following industry practice, all prices are
quoted at the seller's factory.
EI publishes a catalog, which is revised periodically. Also, it exhibits in most equipment
trade shows.
What kind of products are EI's semiconductors FOR MOST CUSTOMERS?
A. Supplies
B. Installations
C. Component parts
D. Accessory equipment
E. Raw materials
Answer:
Macro-marketing
A. is a social process.
B. concerns the activities of individual managers.
C. is what people have in mind when they talk about marketing in everyday use.
D. helps consumers that need a narrow assortment of products.
E. applies only to nonprofit organizations.
Answer:
The following activities are rightly considered marketing except:
A. advertising the grand opening of a new furniture store.
B. researching which furniture designs are popular with consumers.
C. determining how many pieces of furniture can be sold at different price points.
D. building a facility to make furniture.
E. selling furniture to customers in a furniture showroom.
Answer:
Which of the following statements about promotional expenses is true?
A. People correctly think that promotion money is spent primarily on advertising.
B. The many ads that people see on the Web, in magazines and newspapers, and on TV
are impressive and inexpensive.
C. All the special sales promotions add up to less money than advertisements.
D. Firms spend more money on advertising than on sales promotion.
E. Firms spend less money on advertising than on personal selling.
Answer:
The AIO items used in life-style analysis include:
A. activities, intentions, and opinions.
B. attitudes, intentions, and opinions.
C. attitudes, income, and opinions.
D. activities, interests, and opinions.
E. attitudes, interests, and opinions.
Answer:
Which of the following is a BEHAVIORAL segmenting dimension?
A. Needs
B. Region of the world or country
C. Income
D. Education
E. Ethnicity
Answer:
The Federal Fair Packaging and Labeling Act:
A. requires that consumer goods be clearly labeled in understandable terms-to give
more information.
B. requires informative labeling of food products regarding nutrients, taste, and texture.
C. requires informative labeling of food products regarding fat content.
D. requires protective packaging.
E. All of these alternatives are correct.
Answer:
A ______________ is an organized way of continually gathering and analyzing data to
get information to help marketing managers make ongoing decisions.
A. marketing information system
B. marketing model
C. marketing research project
D. marketing research department
E. marketing logistics system
Answer:
At Verizon Communications, a marketing manager can view up-to-date marketing data
that has been customized to fit his area of responsibility by using a:
A. data warehouse.
B. search engine.
C. situation analysis.
D. marketing dashboard.
E. validity study.
Answer:
The two basic types of merchant wholesalers are:
A. single-line and limited function.
B. agents and merchants.
C. service and general line.
D. service and limited function.
E. single-line and general line.
Answer:
ABC Technologies manufactures computer accessories, such as modems and network
cards. Even though the company has several purchasing managers, the company
president has final authority on all purchases over $500, including the selection of the
supplier. In the typical buying center in this company, the company president would
have the primary role of:
A. user.
B. buyer.
C. influencer.
D. decider.
E. gatekeeper.
Answer:
As a product moves through its product life cycle:
A. industry profits may decrease while industry sales increase.
B. the nature of competition moves toward pure competition or oligopoly.
C. entirely different target markets may be aimed at.
D. customers' attitudes and needs may change.
E. All of these alternatives are true.
Answer:
A wine producer wants a supermarket manager to display its wines in a desirable
end-of-aisle location, but the supermarket manager refuses to give that valuable real
estate to this producer. This is an example of __________ conflict.
A. contractual
B. vertical
C. corporate
D. horizontal
E. administered
Answer:
Full-scale market tests:
A. Are unrealistic because they do not test the whole marketing mix.
B. Are not expensive.
C. Should always be skipped if management is sure that it understands consumer
preferences.
D. May provide information to competitors.
E. Are used mostly for products that have high production costs and long lead times.
Answer:
Freight absorption pricing:
A. amounts to cutting list price to appeal to new geographic markets.
B. forces all buyers to pay higher shipping costs.
C. tends to restrict firms from competing in distant markets.
D. tends to decrease competition.
E. None of these alternatives is correct.
Answer:
Identify the correct sequence in the marketing research process.
A. Analyzing the situation, getting problem-specific data, interpreting the data, defining
the problem, solving the problem
B. Analyzing the situation, defining the problem, getting problem-specific data,
interpreting the data, solving the problem
C. Defining the problem, analyzing the situation, getting problem-specific data,
interpreting the data, solving the problem
D. Getting problem-specific data, interpreting the data, analyzing the situation, defining
the problem, solving the problem
E. Getting problem-specific data, interpreting the data, defining the problem, solving
the problem, analyzing the situation
Answer:
All of the following publicity tools are examples of one-way communication from a
company to consumers or business customers EXCEPT:
A. videos.
B. Facebook.
C. podcasts.
D. case studies.
E. commercial white papers.
Answer:
From a producer's viewpoint, which of the following is an advantage of intensive
distribution over selective distribution?
A. Intermediaries' price-cutting may be reduced.
B. Intermediaries' facilities will be more convenient for customers.
C. Intermediaries can be required to carry larger stocks.
D. More aggressive selling can be expected from intermediaries.
E. Better service can be required from intermediaries.
Answer:
The text's business product classes are based on:
A. how buyers think about products and how they will be used.
B. how consumers think about and shop for products.
C. a buyer's price sensitivity.
D. a buyer's willingness to search.
E. none of these alternatives is a good answer.
Answer:
