According to research conducted by Canadian cultural anthropologists, Canadians place
a high importance on personal relationships. This leads them to be extremely reluctant
to buy through an impersonal medium like a telephone. For an insurance company that
was hoping to sell insurance through telemarketers, this research would be an example
of
a. internal secondary data.
b. a constraint.
c. an assumption.
d. a dependent variable.
e. external secondary data.
Answer:
Bakery items, dairy products, and meat that are sold for cash directly from trucks in
their original packages are traditionally sold by which type of wholesaler?
a. rack jobbers
b. drop shippers
c. cash and carry wholesalers
d. truck jobbers
e. general merchandise wholesalers
Answer:
Orlando uses a wireless system to receive advertising for flat-screen monitors mounted
in its 240 buses. These ads are examples of __________.
a. mobile advertising
b. place-based billboards
c. mobile signage
d. transit advertising
e. transportation advertising
Answer:
Channel conflict that arises when one member bypasses another member and sells or
buys product directly is referred to as __________.
a. horizontal conflict
b. channel circumvention
c. lateral conflict
d. disintermediation
e. dual distribution
Answer:
If Ben & Jerry’s sold its Bonnaroo Buzz Fair Trade-sourced super premium ice cream to
Brazilian consumers, it would be using a __________ strategy.
a. product development
b. market penetration
c. diversification
d. market development
e. market saturation
Answer:
Figure 1.
In Figure 1. above, column “B” represents which of the following in terms of consumer
involvement and product knowledge?
a. consideration set
b. routine problem solving
c. limited problem solving
d. extended problem solving
e. integrated problem solving
Answer:
Those behaviors that result from (1) repeated experience and (2) reasoning is referred to
as
a. psychosocial edification.
b. acculturation.
c. attitudinal identification.
d. wisdom.
e. learning.
Answer:
LG Electronics Inc. has entered into an agreement with Google to offer selected models
of its mobile phones that use a multi-touch interface installed on them rather than
buttons to make calls with Google’s Android operating system software. This is an
example of which type of innovation?
a. continuous innovation.
b. discontinuous innovation.
c. dynamically continuous innovation.
d. disruptive innovation.
e. evolutionary innovation.
Answer:
The key to all scheduling techniques is to
a. avoid scheduling tasks that can be done concurrently.
b. avoid tasks that must be done sequentially.
c. make sure to allow a 20 percent delay factor to account for contingencies.
d. assign responsibility for end results to the entire group rather than a single individual.
e. distinguish tasks that must be done sequentially from those which can be done
concurrently.
Answer:
The practice where a translated word or phrase is retranslated into the original language
by a different interpreter to catch errors is referred to as
a. locution.
b. heuristics.
c. transliteration.
d. back translation.
e. cross-cultural paraphrasing.
Answer:
When General Mills teams up with Hershey Foods to create a cereal called Reese’s
Peanut Butter Puffs (the Reese’s brand belonging to Hershey’s), what is the General
Mills’ branding strategy called?
a. manufacturer branding
b. brand bundling
c. mixed branding
d. co-branding
e. multibranding
Answer:
Implementation of IBM’s “Smarter Planet” strategy has resulted in all of the following
EXCEPT:
a. a reduction in supply chain costs and inventory levels for retailers.
b. a reduction in traffic delays through coordinated signals.
c. a reduction in power usage for consumers using smart meters.
d. a reduction in crime.
e. a reduction in wasted coverage for advertising messages.
Answer:
Which of the following statements about advertising is most accurate?
a. Advertising can communicate specific product benefits to prospective buyers.
b. Advertising has limited control as to when and where an advertisement will be used.
c. A key advantage of advertising is its ability to use customized interactions.
d. Advertising can be a very effective “attention getter” especially for new products, but
has little impact for repeat buys.
e. Advertising is one of the least costly forms of promotion because it reaches a mass
market.
Answer:
A sales promotion designed to encourage and reward repeat purchases by
acknowledging each purchase made by a consumer and offering a premium as
purchases accumulate is referred to as
a. a merchandise deal.
b. product enhancement.
c. a loyalty program.
d. retail positioning.
e. experiential decoding.
Answer:
An economics student would like to buy a mini-scooter but she cannot afford one.
Which of the following reasons explain why marketing fails to occur here?
a. There are not two or more parties with unsatisfied needs.
b. A desire to satisfy a need is missing.
c. No assessments of consumer wants and needs have been made.
d. There is no way for the parties involved to communicate.
e. The ability to satisfy a need is missing.
Answer:
A current practice whereby retailers may demand cash or free goods in exchange for
shelf space to stock new products is referred to as
a. slotting allowances.
b. kickbacks.
c. economic espionage.
d. tying arrangements.
e. industrial bribes.
Answer:
When compared to a multiple products, multiple market segments strategy, a one
product, multiple market segment strategy
a. is a much more effective means of meeting consumers’ individual needs.
b. creates greater cost savings in manufacturing costs.
c. is a more effective way of meeting organizational objectives.
d. has significantly higher distribution costs.
e. is more profitable since a firm can charge the new segment higher prices without
changing the product.
Answer:
Marketers can communicate best with Generation Y consumers by __________.
a. using cable TV ads since this generation watches TV more than any other medium
b. adding mobile media to their IMC campaigns
c. placing ads on Sirius XM radio
d. using the 24/7 approach
e. using radio ads since this generation listens to radio more than any other medium
Answer:
What percentage of a sales representative’s time is spent selling?
a. 32 percent
b. 41 percent
c. 48 percent
d. 53 percent
e. 55 percent
Answer:
If a purchase is a straight or modified rebuy for a manufacturer, the seller should
emphasize a reliable supply and __________ in meetings with the purchasing agent.
a. a competitive price
b. nationwide distribution
c. available advertising money
d. quality product
e. a great brand name
Answer:
Two carmakers have developed a strange but successful partnership. Ford, a U.S.
automaker, and Mazda, an Asian carmaker, have collaborated on several models,
including the Explorer, the Probe, the Mazda 323, and the Mazda MX-6. The U.S.
automaker has supplied Mazda with help in marketing, finance, and styling. In return,
Mazda has provided manufacturing and product development expertise to Ford. Both
companies have worked together toward a common goal and both have benefited as a
result of their
a. international contract.
b. free trade agreement.
c. strategic alliance.
d. collaborative treaty.
e. global oligopoly.
Answer:
The term used to identify an organization’s long-term course of action designed to
deliver a unique customer experience while achieving its goals is referred to as a
__________.
a. marketing strategy
b. policy
c. strategy
d. plan
e. tactic
Answer:
As product adopters, laggards __________.
a. have a fear of debt and use neighbors and friends as information sources
b. are skeptical and have below average social status
c. are deliberate and use many informal social contacts
d. are leaders in social settings and have a slightly above average education
e. are venturesome, highly educated, and use multiple information sources
Answer:
A marketing metric refers to
a. a measure of the quantitative value or trend of a marketing activity or result.
b. a form of linear trend analysis used to project future profits based on existing
marketing plans.
c. one of a series of mathematical formulas used to calculate potential profits based
upon different environmental forces.
d. information about an organization’s core values and code of ethics so marketers can
quickly (1) spot deviations and (2) take corrective actions.
e. the value of a product in terms of market share or growth rate relative to its
competitors.
Answer:
Sales promotions used to support a company’s advertising and personal selling directed
to ultimate consumers are referred to as __________.
a. trade-oriented sales promotions
b. manufacturers’ promotions
c. channel promotions
d. consumer-oriented sales promotions
e. public service promotions
Answer:
The lag from ordering an item until it is received and ready for use or sale is referred to
as
a. order cycle time.
b. order handling time.
c. order-to-ship duration.
d. purchase cycle.
e. logistics cycle.
Answer:
An additional benefit of a Phillies special promotions night is that it not only does
boosts overall attendance, it
a. generates first-time visits from fans who have never attended a Major League
Baseball game.
b. generates premiums (wristbands, caps, bats, etc.) from new companies interested in
offering a promotion to gain positive exposure.
c. helps regulate local traffic since people arrive early to be sure they get the free gift.
d. helps keep children quiet during the game since they’re playing with their free gift
and not bothering their parents or other game attendees.
e. creates a heightened sense of excitement and anticipation for the game.
Answer:
Figure 1.
Figure 1. above shows how marketing researchers and managers use information
technology to turn information into marketing actions. What does “D” represent?
a. external data sources
b. results
c. data warehouse
d. internal data sources
e. buying queries
Answer:
Watch was a teen publication given out free to high school students, but the publication
was unable to deliver the response rates to coupons or sample offers that its advertisers
expected. After defining the problem, its publisher developed a research plan, gathered
information from teen focus groups, analyzed the findings, and replaced Watch
magazine with Fuel for boys and Verve for girls. How would a marketer judge the
publisher’s actions?
a. Why fix something that is not broken? The magazine was still attracting some
advertisers.
b. It made a big deal out of a small declinea few copy changes would have been
enough.
c. The approach it took was too complicated and costly to provide an effective solution
to the problem.
d. It took a systematic approach to analyzing the problem and responded to its
advertisers’ concerns.
e. This publisher used an approach that works for corporations but will just waste time
for a small publisher.
Answer:
Competitive parity budgeting refers to
a. matching a competitor’s absolute level of spending or the proportion per point of
market share.
b. allocating funds to a promotion as a percentage of past or anticipated sales, in terms
of either dollars or units sold.
c. allocating funds to a promotion only after all other budget items are covered.
d. determining a firm’s promotion objectives, outlining the tasks to accomplish these
objectives, and determining the advertising cost of performing these tasks.
e. allocating funds to a promotion based on expected profits generated from it.
Answer:
The apple with a bite taken out of it that appears on every Apple product is an example
of a __________.
a. copyright
b. trade name
c. trade mark
d. logotype
e. label
Answer:
What is meant by “convergence” of real and digital worlds? Provide one example.
Answer:
Most advertising messages are made up of both informational and persuasional
elements. These two elements can be combined in the form of an appeal to provide a
basic reason for the consumer to act. Briefly describe the three appeals.
Answer:
Good marketing research requires great care especially because of inherent difficulties
in asking consumers questions. What are the three basic problems faced by marketing
researchers when trying to assess consumers’ willingness to buy products or services
with which they are not familiar?
Answer:
What is the trade feedback effect?
Answer:
Identify and describe the stages of the generalized product life cycle. For each stage,
specify the marketing objective a firm should attempt to achieve.
Answer:
Describe the people at the bottom of the pyramid and give an example of how global
companies are choosing to serve them.
Answer:
Harley-Davidson is well known for the HOG, or Harley Owners Group, that it has
developed. Harley-Davidson encourages owners to visit its website to find out about
events, races, and membership chapters. The website visitor can play
motorcycle-inspired games, plan motorcycle trips, and even investigate how to finance
a bike. Visitors can view the entire line of bikes as well as find out where the closest
dealer is located. You can contact Harley-Davidson by clicking on the “Contact Us” tab.
The visitor can either create a wish list of Harley products and accessories or view
another’s list. Using the six reasons why consumers shop and buy online, explain how
Harley-Davidson uses the Internet to stay connected with its target market.
Answer:
What are the strengths/advantages and weaknesses/disadvantages of using personal
selling in the promotional mix?
Answer:
How do selective perception, selective exposure, selective comprehension, and
selective retention differ?
Answer:
What is data mining and why is it used in marketing research?
Answer:
Describe two potential problems associated with transactional websites.
Answer:
Explain the selling model that Xerox uses.
Answer:
Explain the three forms of price elasticity of demand.
Answer:
Define “marketing dashboard” and “marketing metric” and explain how these terms are
related.
Answer:
The VALS system seeks to explain why and how consumers make purchase decisions.
Consumers motivated by ideals are guided by knowledge and principle. Explain the
difference between Thinkers and Believers.
Answer:
What specific decision areas are associated with the flow of goods and together make
up total logistics cost?
Answer: