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Category killers are superstores that carry a deep assortment of a particular product line.
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The most important issue facing online researchers in the United States is the lack of a
broad cross section of consumers who have access to the Internet.
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Not all companies that use income segmentation target the affluent.
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Success at delivering customer value rests on how well a company's entire supply chain
performs against competitors' supply chains.
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The European Union restricts trade opportunities to European firms.
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Customer equity is a measure of the past value of a company's customer base.
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Government regulations are intended to protect consumers, companies, and societal
interests.
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In the marketing mix, product refers to activities that communicate the merits of a
product and persuade target customers to buy it.
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Global branding and standardization result in reduced costs from economies of scale.
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Global companies recruit management from many countries, buy components and
supplies where they cost the least, and invest where the expected returns are greatest.
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Product, price, place, and promotion make up the elements of a firm's marketing mix.
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Xorbate Blue is a relatively new food supplement that provides both high immediate
satisfaction and high long-run benefits. Xorbate Blue is best classified as a salutary
product.
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The affordable method of setting an advertising budget depends on the total revenues of
a company.
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Deceptive pricing practices include misrepresenting the product's features or
performance or luring customers to the store for a bargain that is out of stock.
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When using product line pricing, a firm sets one price for all products in the line based
on average manufacturing costs.
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In a push promotion strategy, the producer promotes a product to channel members who
in turn promote it to final consumers.
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A company's customer value delivery network does not include members external to the
organization.
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Though marketers may make long-term gains with high-pressure selling tactics, this
approach can do serious damage to short-term customer relationships.
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Secondary data consist of information collected for the specific purpose at hand.
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Companies that export goods to one country cannot have a subsidiary in another
country because of international trade agreements.
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Freight-absorption pricing is used for market skimming and holding on to monopolistic
markets.
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Market offerings include entities such as people, places, information, and ideas.
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Stringent product regulations have helped to lower research costs and decrease time
between new product ideas and their introduction to the market.
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Manufacturers provide allowances to retailers as compensation for advertising or
creating special displays for their products.
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Many SBUs start out as stars and move into the question mark category if they succeed.
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An augmented product is a product that is built around the core benefit and actual
product by offering additional consumer services and benefits.
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The information collected for an internal database is typically complete and in the
proper form.
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A customer buys a can of Pepsi from a Walmart store. In this scenario, Walmart is a
supplier in Pepsi's value delivery network.
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While designing a customer-driven marketing strategy, marketers are likely to divide
the market into smaller segments.
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In the final step of a marketing process, a company reaps the rewards of its strong
customer relationships by capturing value from customers.
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Brokers and agents usually take title to goods and perform various functions for
retailers.
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As the weakened global economy has slowed, many companies are shifting their sights
to include a new target the so-called "bottom of the economic pyramid."
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Exploratory research would be used to gather data about the market potential for a new
product.
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Barter involves the direct exchange of goods and services.
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Direct marketing is characterized by narrowly defined segments or individual buyers.
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In advertising media selection, frequency describes the qualitative value of message
exposure through a given medium.
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From a producer's point of view, a greater number of levels in a supply chain means less
control and greater channel complexity.
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At John Deere, thousands of people both inside and outside the organization make
decisions about target segments, branding, product development, pricing, promotion,
and distribution. They talk with engineering about product design, advertising agencies
about ad campaigns, and large retailers like Lowe's about quality offerings. This is an
example of ________.
A) marketing planning
B) marketing standards
C) marketing control
D) marketing strategy
E) marketing implementation
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Which of the following is an example of consumer-generated marketing?
A) Cristal, a jewelry store, uses its page on Facebook to provide information about its
upcoming products to its customers.
B) Figa, a leading provider of athletic shoes, helps its customers customize their shoes
on its Web site and choose personalized settings.
C) Fun & Run, a local amusement park, promotes its services by allowing consumers to
upload videos and write reviews about the park.
D) Barton's, a local pet supply store, rewards frequent buyers with vouchers and
exclusive offers.
E) Energix, a manufacturer of soft drinks, attracts customers through televised
advertisements.
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Which of the following is considered a major influence on business buyer behavior?
A) general need
B) organizational factors
C) social forces
D) demographic criteria
E) performance reviews
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The challenge for makers of ________ products is to add long-run benefits without
reducing the products' agreeable qualities.
A) salutary
B) desirable
C) pleasing
D) durable
E) deficient
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Which of the following is an advantage of direct investment?
A) Direct investment involves fewer risks than joint ownership.
B) Direct investment ensures that a firm is shielded from market changes.
C) Direct investment allows a firm to keep full control over the investment.
D) Direct investment involves minimal financial or time expenditures.
E) Direct investment protects the firm from currency devaluation.
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Which of the following is true of the growth stage of the product life cycle?
A) New competitors avoid the market.
B) Prices tend to increase significantly.
C) Early adopters stop buying the product.
D) Profits are nonexistent at this stage.
E) Sales start climbing quickly.
Answer:
Flores Fashions promotes its clothing by emphasizing the durability and quality of the
fabrics it uses. The company has positioned its brand based on ________.
A) product benefits
B) product attributes
C) beliefs and values
D) market share
E) brand loyalty
Answer:
C & G Retail, a chain of local supermarkets, procures all its goods directly from the
producers' factories. This type of wholesaling is usually done in ________.
A) corporate broker branches
B) manufacturers' offices
C) value-retail centers
D) warehouse clubs
E) factory outlet malls
Answer:
________ can provide on-the-go product information, price comparisons, advice and
reviews from other consumers, and access to instant deals and digital coupons.
A) Indirect marketing
B) Television marketing
C) Mobile marketing
D) Inbound telephone marketing
E) Direct-mail marketing
Answer:
Costs that change directly with the level of production are referred to as ________
costs.
A) fixed
B) variable
C) target
D) capital
E) payroll
Answer:
Which type of retailer is much larger than a regular supermarket and offers a large
assortment of routinely purchased food products, nonfood items, and services?
A) discount stores
B) specialty stores
C) factory outlets
D) superstores
E) off-price outlets
Answer:
The ________ concept focuses on the future welfare of consumers and future company
needs.
A) societal marketing
B) strategic planning
C) sustainable marketing
D) marketing
E) cause marketing
Answer:
A(n) ________ is the variable amount in a salesperson's compensation.
A) bonus
B) commission
C) salary
D) incentive
E) profit-sharing plan
Answer:
Delta, an American video game manufacturer, targets teens between the ages of 13 and
18, providing free game trials and applications. The firm's marketing approach
exemplifies ________ segmentation.
A) age and life-cycle
B) geographic
C) occasion
D) gender
E) income
Answer:
To overcome this problem when selling to less-affluent consumers in developing
countries, many companies make simpler or smaller versions of their products that can
be sold at lower prices. Others have introduced new, more affordable brands for global
markets. This is known as a(n) ________ problem.
A) price escalation
B) demand escalation
C) inflation
D) skimming price
E) deflation
Answer:
According to the text, today's large and progressive wholesalers have successfully
reacted to rising costs by ________.
A) relocating to low-rent, low-tax areas
B) investing in information technology systems
C) eliminating the need for brokers and agents
D) increasing customer service responsibilities
E) reducing promotional and personal selling activities
Answer:
What is most likely the first major marketing decision that a retailer must take?
A) positioning
B) targeting
C) segmentation
D) differentiation
E) promoting
Answer:
Charging higher prices on an everyday basis, coupled with frequent sales and other
price promotions to increase store traffic, create a low-price image, or attract customers
who will buy other goods at full prices is referred to as ________ pricing.
A) category killer
B) discount
C) high-low
D) every day low
E) predatory
Answer:
Which of the following statements is most likely true about the product life cycle?
A) Throughout the product introduction stage, sales are zero.
B) The growth stage is the longest stage of the product life cycle.
C) Profits are nonexistent in the growth stage.
D) Growth is a period of rapid market acceptance and increasing profits.
E) Maturity is the period when sales fall off but profits continue to rise.
Answer:
Hallmark's classic "When you care enough to send the very best" slogan appeals to
which need category in Maslow's hierarchy?
A) physiological
B) social
C) esteem
D) self-actualization
E) safety
Answer:
The Children's Online Privacy Protection Act requires online operators targeting
children to ________.
A) educate children about digital technologies
B) post privacy policies on their sites
C) collect and store the personal information of parents of these children
D) collect personal information from children under age 13 for security purposes
E) avoid sending e-mails to the parents of children whom they target
Answer:
Starbucks has signed a contract with a television production company to have its brand
featured prominently in a new situation comedy about empty nesters. The conditions of
the agreement state that the situation comedy will feature only the Starbucks brand of
coffee. What kind of advertising technique is being used in this example?
A) geofencing
B) advertainment
C) product placement
D) vertical integration
E) subliminal advertising
Answer:
The town of Genter recently witnessed a devastating hurricane that crippled the town's
infrastructure. Q-Mart, a retail chain that plans to open a new retail store in Genter,
organizes a program to help the people of Genter. The program consists of providing
free meals to those who lost their dwellings in the hurricane. What section of the
marketing microenvironment is Q-Mart most likely trying to reach?
A) suppliers
B) marketing intermediaries
C) local publics
D) competitors
E) employees
Answer:
The migration trend towards micropolitan and suburban areas has caused a shift in
where people work. This has resulted in a rapid increase in the number of people who
________.
A) commute
B) leave the workforce
C) telecommute
D) work part-time
E) purchase second residences
Answer:
Inglast, a chocolate producer, is faced with a class action suit when customers found
pieces of plastic in boxes of cocoa powder. Inglast settles the case and then releases an
advertising campaign to show the new and improved safety seals on all containers of
cocoa powder. Which kind of advertisement has Inglast most likely used?
A) classified
B) informative
C) comparative
D) personalized
E) reminder
Answer:
Under ________, the market consists of a few large sellers who are highly sensitive to
each other's pricing and marketing strategies.
A) pure competition
B) monopolistic competition
C) oligopolistic competition
D) a pure monopoly
E) pure monopsony
Answer:
Burger Town introduced a new hamburger and released it in two different cities at two
different prices. Marketers of Burger Town then analyzed the sales records of their
outlets at the two cities, determined the price that resulted in better profits, and used the
information to set a nationwide price for their new offering. This is an example of
________.
A) exploratory research
B) survey research
C) netnography research
D) experimental research
E) descriptive research
Answer:
Design, packaging, service, and features are elements of the ________ component of a
company's marketing mix.
A) product
B) price
C) promotion
D) place
E) people
Answer:
The salesperson completes any details on delivery time, purchase terms, and other
matters during the ________ step of the selling process.
A) closing
B) follow-up
C) handling objections
D) presentation
E) prospecting
Answer:
Establishing prices for razor blades that must be used with a razor blade system is
known as ________ pricing.
A) by-product
B) market-penetration
C) product line
D) product bundle
E) captive-product
Answer:
In which of the following cases is a firm employing omni-channel retailing?
A) E-tailers such as Hammon.com market their products through a strong online
presence.
B) Wingate Retail sells its products through e-tailers and hundreds of physical
superstores.
C) Russel Stores' sales operations are based on heavy outbound telephone marketing.
D) Lues Wholesalers markets its products to retailers through personal selling.
E) Local convenience stores promote products through word-of-mouth marketing.
Answer:
Which of the following statements is most likely true of team selling?
A) It is used most often when the group of target customers is small and homogeneous.
B) It consists of experts from a single area of the selling firm such as marketing or
finance.
C) It can unearth problems and provide solutions that no individual salesperson could.
D) It is most often implemented when products are simple and distribution costs are
low.
E) It simplifies the process of evaluating the individual contributions of sales team
members.
Answer:
A ________ contains between 15 and 50 retail stores, including a department or variety
store, a supermarket, specialty stores, professional offices, and sometimes a bank.
A) community shopping center
B) warehouse club
C) superstore
D) neighborhood shopping center
E) regional shopping mall
Answer:
Compare the selling and marketing concepts, and list the key components of each
concept.
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Marketing research can be collected by mail, telephone, personal interview, or online.
Discuss the advantages of each contact method.
Answer:
What are the different functions of a public relations (PR) department?
Answer:
Describe superstores, category killers, and service retailers.
Answer:
What is a business portfolio? How does a company typically conduct a portfolio
analysis?
Answer:
What is a sustainability vision?
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How are American businesses utilizing new technologies to improve their inventory
management? Provide examples to illustrate your response.
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Explain the steps involved in the marketing research process.
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Explain the cultural factors that influence consumer behavior.
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Discuss the opportunities and challenges that new communication technologies have
created for marketers.
Answer:
Contrast pull and push promotion mix strategies with suitable examples.
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Briefly describe the maturity stage of the product life cycle.
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Why is monitoring the technological environment crucial for marketing professionals?
Answer:
Compare the two common principles that can be used to guide companies and
marketing managers on issues of ethics and social responsibility.
Answer:
Explain how a company's value chain works. Provide an example to illustrate your
response.
Answer:
Discuss the concept of brand positioning.
Answer:
Describe age and life-cycle segmentation with examples. What are the precautions that
marketers should take when using age and life-cycle segmentation?
Answer:
