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Kevin Pinker is a freelance computer programmer who writes computer algorithms for
companies such as SoftStar and BlueHill. SoftStar and BlueHill use these algorithms to
make specific programs based on online market research. These programs are then sold
to the online retailer, Abundon, which then sells them to individual consumers and
businesses. Which of the following is a marketing intermediary in this chain?
A) SoftStar
B) BlueHill
C) the consumer
D) Abundon
E) Kevin Pinker
Answer:
Computer Works is a computer accessories manufacturer based in Brazil. All customers
in South America pay the same freight charge, $20, when they order products from the
company. All customers in North America pay a freight charge of $50. The company's
pricing strategy is referred to as ________ pricing.
A) basing-point
B) FOB-origin
C) freight-absorption
D) zone
E) uniform-delivered
Answer:
Doggie World concept tested an idea for a new chew toy that would entertain dogs
while simultaneously cleaning their teeth. Dog owners were pleased with the results.
The next stage in developing the new product concept is ________.
A) idea screening
B) marketing strategy development
C) business analysis
D) product development
E) test marketing
Answer:
Stores that provide moderate sales assistance because they carry shopping goods about
which customers need a moderate level of information are called ________ retailers.
A) self-service
B) full-service
C) off-price
D) limited-service
E) convenience
Answer:
In a sequential new product development process, which of the following is true of the
product development step?
A) Product development is usually followed by a business analysis of the product.
B) Product development involves introducing a product into realistic market settings.
C) Product development avoids testing products on actual customers due to liability
concerns.
D) Product development is usually followed by test marketing.
E) Product development helps top management review profit projections.
Answer:
Cracker Jack, an American brand snack of caramel-coated popcorn and peanuts, has
been in existence since 1896. The brand became popularized due to its free prize inside
every box. Which of the following promotion tools does this exemplify?
A) rebate
B) coupon
C) price pack
D) sample
E) premium
Answer:
The primary objective of ________ advertising is to build selective demand.
A) reminder
B) classified
C) personal
D) informative
E) persuasive
Answer:
Secure is a financial services and insurance company. The company's most profitable
division is one that sells the Secure Future Plan. The Secure Future Plan targets
customers who are entering retirement and want long-term savings so they can remain
financially independent in the later years of their life. The marketing team at Secure has
most likely targeted the plan at ________.
A) Millennials
B) baby boomers
C) Generation Xers
D) Generation Zers
E) the Lost Generation
Answer:
Which statement about convenience products is most likely true?
A) They are distributed exclusively in only one or a few outlets per market area.
B) They are products that consumers rarely consider buying.
C) Luxury cars and designer clothes are examples of convenience products.
D) Consumers need to make special purchasing efforts to buy such products.
E) They are bought by consumers frequently and with minimal comparison.
Answer:
Which of the following is true of the World Trade Organization (WTO)?
A) It was replaced by the GATT in 1995.
B) It increases tariffs and other international trade barriers.
C) It lacks the power to impose international trade sanctions.
D) It restricts the maximum number of member nations to 100.
E) It mediates global trade disputes.
Answer:
Which of the following statements is true of retailing?
A) All retail stores are full-service retail stores.
B) A department store has a narrow product line with a deep assortment.
C) The largest type of retail outlet is a supermarket.
D) Services like hotels, banks, airlines, restaurants, colleges, and hospitals can be
retailed.
E) A feature common to all types of retail stores is the use of the everyday low pricing
strategy.
Answer:
What is the last step in the selling process?
A) follow-up
B) closing
C) handling objections
D) presentation
E) prospecting
Answer:
When establishing prices, it's important for a manager to understand that "good value"
is not the same as ________.
A) "low price"
B) "high price"
C) "bargain basement"
D) "perceived value"
E) "everyday value"
Answer:
The USA Cotton Growers Cooperative sells unfinished cotton to The Weaving Experts
who refine the raw material for sale to The Sheet Factory. It's then used in the
manufacturing process of 300, 400, and 500 thread count bed sheet sets. The Sheet
Factory distributes their products through a number of wholesalers, including Linen
Traders. Linen Traders then resells the bed sheet sets to retailer Bedding Plus who
markets the products to consumers. Which of the following represents a marketing
intermediary transaction?
A) only Linen Traders
B) only Bedding Plus
C) only The Weaving Experts
D) Linen Traders selling to Bedding Plus
E) The Weaving Experts selling to Linen Traders
Answer:
Which component of the marketing mix refers to the goods-and-services combination a
company offers to its target market?
A) promotion
B) product
C) price
D) place
E) position
Answer:
Which of the following is a personal factor that influences a consumer's buying
behavior?
A) life-cycle stage
B) motivation
C) status
D) family
E) social networks
Answer:
Sonic Shack, an audio equipment retailer, signs an agreement with PineWire, a
renowned electronics company, to sell PineWire products. The deal requires Sonic
Shack to provide PineWire products with superior displays, shelf space, and promotion
compared to competing products. Sonic agrees to these terms as PineWire products
command a huge share in the market. Which of the following types of channel
arrangements do PineWire and Sonic Shack most likely have?
A) administered vertical marketing system
B) corporate vertical marketing system
C) indirect marketing system
D) wholesaler franchise system
E) horizontal marketing system
Answer:
Data collection, processing, and analysis are undertaken during which stage of the
marketing research process?
A) selecting a sampling method
B) interpreting the findings
C) implementing the research plan
D) drawing conclusions from the findings
E) selecting a research approach
Answer:
Procter & Gamble's Tide detergent does not phone or call on all of its consumers to get
to know them personally. Instead, Tide creates engagement and relationships through
brand-building advertising, Web sites, and social media presence. Which of the
following types of associations would be most profitable for the firm to develop with
these customers?
A) full partnerships
B) basic relationships
C) joint ventures
D) strategic alliances
E) business partnering
Answer:
PharmaCom serves millions of customers across several Asian countries with the
assistance of several pharmaceutical manufacturing sites in China, Japan, and Korea.
This is an example of ________.
A) licensing
B) exporting
C) joint ownership
D) contract manufacturing
E) management contracting
Answer:
________ segmentation factors divide buyers into different groups based on social
class, lifestyle, or personality characteristics.
A) Geographic
B) Demographic
C) Psychographic
D) Behavioral
E) User status
Answer:
________ are small groups of consumers who interact directly and informally with
product designers without a moderator.
A) Cross-functional groups
B) Ethnographic groups
C) Observational groups
D) Immersion groups
E) Traditional focus groups
Answer:
________ refers to the unique psychological characteristics that distinguish a person or
group.
A) Personality
B) Lifestyle
C) Status
D) Attitude
E) Role
Answer:
Which of the following is most likely a true statement about people's views about
organizations?
A) Many people view work at an organization as a required chore.
B) People don't expect organizations to carry out society's work.
C) Confidence in political organizations has increased in recent years.
D) Loyalty towards employers has increased in the past two decades.
E) Many people today see organizations as a source of personal satisfaction.
Answer:
Enlightened marketing calls for building long-run consumer engagement, loyalty, and
relationships by continually improving the benefits consumers receive from the firm's
market offering. This is related to ________, one of the five sustainable marketing
principles.
A) consumer-oriented marketing
B) innovative marketing
C) sense-of-mission marketing
D) societal marketing
E) customer value marketing
Answer:
Which of the following concepts is based on a customer-centered philosophy?
A) the product concept
B) the marketing concept
C) the production concept
D) the selling concept
E) the distribution concept
Answer:
Los Amigos, a new Mexican restaurant, has set up shop across the street from Hot
Tamales and More. Which of the following pricing strategies will Los Amigos likely
use?
A) cost-plus
B) competition-based
C) break-even
D) good-value
E) target costing
Answer:
Which of the following is most likely a drawback of contract manufacturing?
A) There are low chances of quickly starting the process.
B) There is decreased control over the manufacturing process.
C) There are significant political and economic risks involved.
D) There is little opportunity of later forming a partnership.
E) There is no possibility of buying out the local manufacturer.
Answer:
________ have filled the ultralow-price, high-volume gap by buying at
less-than-regular wholesale prices and charging consumers less than retail.
A) Off-price retailers
B) Specialty stores
C) Convenience stores
D) Designer shops
E) Full-service retailers
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. Which of the following is an example of brand
extension for 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:
________ use the phone, Internet, and social media to find new leads, learn about
customers and their business, or sell and service accounts directly.
A) Outside salespeople
B) Sales managers
C) Sales assistants
D) Technical sales-support people
E) Telemarketers and online sellers
Answer:
Kallton is a multinational communications and information technology corporation. Its
principal products are mobile telephones and tablets. It recently announced on its Web
site that customers can suggest ideas for its upcoming product model. Contributors of
short-listed ideas will be adequately rewarded. In this case, Kallton is using ________
to generate new product ideas.
A) marketing strategy development
B) crowdsourcing
C) concept development
D) business analysis
E) test marketing
Answer:
