In February 2000, the United States imposed a tax on imported steel in an effort to
protect about 5,000 U.S. jobs. Another name for this levied tax is a(n) ________.
A) embargo
B) gray tax
C) tariff
D) import quota
E) boycott
A list price is also referred to as a ________.
A) captive price
B) bundled price
C) channel price
D) suggested retail price
E) basing-point price
CRM stands for ________.
A) consumer relationship marketing
B) consumer retention management
C) customer relationship management
D) customer retention marketing
E) consumer response management
In a(n) ________ model, developers make their programs available for free.
A) amafessional
B) instapreneur
C) anticonsumption
D) open-source
E) Web 2.0
A ________ brings buyers and sellers together and facilitates transactions, typically
charging a fee after a transaction is completed.
A) cash-and-carry wholesaler
B) broker
C) retailer
D) wholesaler
E) commission merchant
Which of the following types of sales promotions would NOT be offered to a final
consumer?
A) rebates
B) push money
C) bonus packs
D) sweepstakes
E) premiums
Which of the following questions should marketers first answer when they are
determining their research design?
A) What kind of sampling method should we use?
B) What type of focus group best fits our needs?
C) Do we need quantitative or qualitative data?
D) Does the information we need already exist?
E) How should we collect the data we need?
Which of the following best explains why new retailers often squeeze out older
retailers?
A) retail borrowing
B) the wheel-of-retailing hypothesis
C) shrinkage
D) pop-up retailing
E) pyramid schemes
The first phase of new product development is ________.
A) problem recognition
B) product concept screening
C) idea generation
D) product concept development
E) business analysis
A ________ is a desire for a particular product a consumer uses to satisfy a need in a
specific way that is culturally and socially influenced.
A) benefit
B) demand
C) value
D) utility
E) want
A real estate company places ads on a local newspaper’s website. The real estate
company pays the newspaper based on how many times readers of the newspaper’s
website select the ads and enter the real estate company’s website. This is an example of
________ pricing.
A) cost per impression
B) cost per customer
C) cost per order
D) cost per click
E) cost per conversion
The purpose of an import quota is to ________.
A) eliminate competition for a nation’s domestic industries
B) increase competition for a nation’s domestic industries
C) reduce competition for a nation’s domestic industries
D) make foreign competitors’ goods less expensive than domestic goods
E) make foreign competitors’ goods more expensive than domestic goods
A collection of products offered for sale in book form, usually consisting of product
descriptions accompanied by photos of the items, is a ________.
A) brochure
B) pamphlet
C) catalog
D) direct-mail item
E) junk-mail item
For a company that manufactures plastic signs, the printing press to make the signs, the
manager’s salary, and the utilities are all examples of ________.
A) fixed costs
B) average fixed costs
C) variable costs
D) marginal costs
E) everyday costs
The decision to use a genie to communicate the strength and power of Mr. Clean
cleaning liquid is representative of the ________ process of the communication model.
A) sourcing
B) encoding
C) feedback
D) decoding
E) messaging
A(n) ________ would probably include customer demographics, location, lifestyle
information, and a description of how frequently the customer buys the product.
A) geocode
B) NAICS classification
C) segment profile
D) internal market audit
E) customer guide
Tony Pool Chemical Co. purchased 144 buckets of chlorine tablets over the Internet
from Chemical, Inc., which then placed the order with the manufacturer and arranged
for its transportation by truck to the Tony Pool store. Chemical, Inc. is an example of
which of the following?
A) a piggyback marketer
B) a reverse flow marketer
C) a disintermediator
D) a hybrid marketer
E) a wholesaling intermediary
Once managers of The Grecian Urn have decided on their product concept and
marketing strategy, they can evaluate the business attractiveness of the proposal in the
________ stage of the new-product development process.
A) business feasibility
B) feasibility study
C) business analysis
D) product acceptance
E) technical development
A company has only one product line: all the company manufactures is supercomputers.
This one product line is also the company’s ________.
A) branding strategy
B) marketing mix
C) product mix
D) promotional mix
E) brand equity
Colgate-Palmolive replaced its brand management structure with a product category
management structure. A manager who had once managed Colgate toothpaste now
manages all of the company’s dental products. Under Colgate’s new system, a product
category manager would have ________.
A) profit and loss responsibility for all dental products
B) completely different duties than the brand manager had
C) less direct authority to achieve goals
D) no authority over functions, other than marketing, that affect dental products
E) no authority over international dental product sales
Which step in developing a marketing plan includes an analysis of the marketing
environment?
A) situation analysis
B) development of marketing objectives
C) selection of a target market
D) development of marketing strategies
E) implementation of the marketing plan
In business-to-business channels, the functions of a merchant wholesaler are performed
by a(n) ________.
A) sales office
B) commission merchant
C) merchant broker
D) business retailer
E) industrial distributor
Members of which generation were born in the years immediately following the end of
World War II?
A) Echo Boomers
B) Millennials
C) baby boomers
D) the baby bust
E) Generation Z
Age, gender, place of residence, and income are all examples of ________.
A) segmentation variables
B) positioning strategies
C) market fragment strategies
D) psychographics
E) targeting strategies
Without prior introduction or arrangement, telemarketers telephone your home and
business offering to sell you a variety of products. These telemarketers engage in what
form of prospecting?
A) referring
B) cold calling
C) networking
D) direct selling
E) qualifying
Procter & Gamble introduced its Duncan Hines ready-to-spread frosting in a small
geographic area. When General Foods became aware of the product, it rushed to market
its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines
product introduction. This act illustrates ________.
A) why many companies engage in test marketing
B) one of the problems associated with test marketing
C) why prototypes are so important
D) how idea screening can make a product a commercial success
E) the variety of sources for idea generation
If Sam describes Coca-Cola as an all-American, Pepsi-Cola as a young daredevil, and
Dr. Pepper as a nonconformist, he would be describing the sodas’ ________.
A) VALS™ profiles
B) target markets
C) brand personalities
D) NAICS classifications
E) trade promotions
After marketing strategies are developed, the next step in market planning is ________.
A) development of marketing objectives
B) strategic planning
C) implementation
D) situation analysis
E) pricing development
The ________ step in the hierarchy of effects calls for marketers to inform the target
market that there is a new brand on the market using simple, repetitive advertising in a
variety of media.
A) awareness
B) knowledge
C) demand
D) desire
E) purchase
________ have unique characteristics that are important to buyers at almost any price.
A) Specialty products
B) Staple products
C) Impulse products
D) MRO products
E) Unsought products
Which of the following is the most accurate generalization of Millennials?
A) Many people in this segment seem determined to have stable families after growing
up as latchkey children.
B) Members of this generation are currently responsible for the majority of new start-up
businesses in the United States.
C) Members of this generation were born in the years immediately following the end of
World War II.
D) Members of this generation have more leisure time than members of other
generations do.
E) Members of this generation are more difficult to reach through television advertising
than members of older generations are.
In a ________, a firm gives another firm the right to produce and market its product in
a specific country or region in return for royalties on goods sold.
A) licensing agreement
B) strategic alliance
C) joint venture
D) marketing mix alliance
E) direct investment
The consumer’s ________ determines whether she will engage in habitual decision
making, extended problem solving, or something in between the two.
A) need for customization
B) level of involvement
C) need for cognitive dissonance
D) ability to generalize stimuli
E) personal marketing mix
The elements of the marketing mix must match the ________.
A) competitive advantage
B) perceptual map
C) selected segment
D) indirect competition
E) direct competition
Using a ________ targeting strategy, a company develops one or more products for
each of several customer groups with different product needs.
A) fragmented
B) homogeneous
C) custom
D) differentiated
E) mass customization