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A gray market employs irregular but not necessarily illegal methods of distributing
products.
Answer:
Firms that primarily sell products view service as a method to maintain a sustainable
competitive advantage.
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The terms external secondary data and syndicated data mean the same thing.
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The 1890 Sherman Antitrust Act prohibited monopolies and other activities that would
restrain trade or competition.
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Jason usually buys Nike shoes, so when his friend asked him what shoes he should buy,
he said Nike without thinking about it. Jason's response was an evoked set.
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When you go to the hospital for an operation, you are the decider in the buying process.
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It is primarily the retailer's responsibility to make sure customers' expectations are
fulfilled.
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The consumer decision process begins with a comparison of available alternatives.
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Though advertising experts wish it were true, there is not always a direct link between a
particular marketing communication and a consumer's purchase.
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One of the major responsibilities of being a sales rep is being the frontline emissary for
one's firm.
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To determine if a new product is commercially viable, a firm can conduct premarket
testing.
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If you are hired as a sales manager, you will be responsible for recruiting, selecting,
training, motivating, compensating, and evaluating the sales force.
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On the diffusion of innovation curve, the first group of buyers who want to be the first
on the block to have the new product are known as early adopters.
Answer:
A survey of marketing officers reported that the most frequently observed type of
unethical behavior was false or misleading advertising.
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In U.S. markets, there are many substitute products for Fruit Loops cereal, suggesting
the price elasticity of demand for Fruit Loops is high.
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When Glenn asked a few of his regular customers to test his prototype surfboard, he
was engaging in alpha testing.
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When a manufacturer sells truck and car parts to Toyota, this is an example of B2C
marketing.
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The most basic corporate social responsibility to employees is to ensure the highest pay
for the work performed.
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For a marketer, the central focus of the entire business process should be the economy.
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The Gaps Model allows systematic examination of all aspects of the product creation
process.
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It is the company's responsibility, not the salesperson's, to ensure that all dealings with
the customer are ethical and legal.
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It is not always necessary to go through all the steps in the marketing planning process.
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Pure competition occurs when there are many firms competing for customers in a given
market but their products are differentiated.
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A familiar brand name always helps the sales of a product.
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The term social media refers exclusively to social networking sites like Facebook.
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A reference group may have direct or indirect influence on your attitude toward a
particular clothing store.
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Radio frequency identification (RFID) tags automatically transmit information about a
container's contents or individual products.
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A small business may use a web portal as a means of forming a supply chain that can
respond to its needs.
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The focus of social media efforts targeted at customer interaction is building
connections.
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The EU recently recommended common guidelines for its member countries regarding
advertising to children.
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Claire always liked Lands' End raincoats, so when she was shopping for a winter coat,
she ordered one from Lands' End without thinking too much about it. This demonstrates
how brands facilitate purchases.
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Retail salespeople should never "judge a book by its cover."
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Because there are many firms with similar products in purely competitive markets,
A. price is determined by the laws of supply and demand.
B. consumers develop personal preferences.
C. firms find it easy to build strong, distinct brands.
D. advertising is heavily used.
E. the many competitors will focus on variable cost pricing.
Answer:
How can a company find its way out of a market characterized by pure competition?
A. Consistently offer the lowest price until other competitors leave the market
B. Increase prices and attract different, quality-oriented customers
C. Decrease the amount of available product until the market reacts
D. Increase the amount of available product to flood the market
E. Differentiate the product in some way, even by packaging, so customers will see it as
distinct
Answer:
A process called _______ enables customers to scan a product in a store and instantly
compare the prices online to see whether a better deal is available.
A. deal-finding
B. window-shopping
C. highlighting
D. matching
E. showrooming
Answer:
When Walmart communicates to consumers that, for any given group of
often-purchased items, its prices will tend to be lower than that of any other competitor,
Walmart is exhibiting what type of pricing strategy?
A. high/low
B. EDLP
C. price skimming
D. uniform delivered pricing
E. bait and switch
Answer:
Data that have been collected prior to the start of the current research project are
considered primary data.
Answer:
The attitudes that Ryan's customers develop after they have purchased his yearly lawn
care service will become the basis for determining whether they renew each year. He
needs to demonstrate the ____________ dimension of service quality by showing
consistently well-maintained yards with neat, professional personnel.
A. reliability
B. responsiveness
C. assurance
D. empathy
E. tangibles
Answer:
A major limitation in the use of internal R&D departments for new idea generation is
A. the natural conflict R&D has with adhering to the firm's mission.
B. that R&D departments tend to be dissolved once sufficient ideas have been
generated.
C. that the bureaucracy associated with R&D departments limits the generation of
ideas.
D. that R&D scientists develop ideas that are impractical to produce.
E. the costs associated with an internal R&D department tend to be quite high.
Answer:
The most important consideration when a firm chooses a global product strategy should
be
A. opportunities for countertrade.
B. the effectiveness of the marketing team.
C. the needs of the target market.
D. the overall cost of the strategy.
E. WTO regulations.
Answer:
A home security company will advertise the need for home surveillance products to
appeal to which level of Maslow's Hierarchy of Needs?
A. safety
B. love
C. esteem
D. self-actualization
E. physiological
Answer:
Some credit cards provide free liability insurance, funded by the bank issuing the card,
when a customer pays for a rental car using the card. This extra insurance is an example
of
A. product style.
B. the actual product.
C. an associated service.
D. the product position.
E. the core value.
Answer:
Mira purchased some eyeliner from an Internet-based beauty supply house, and now
she often receives online recommendations for other products from the same cosmetics
line. These recommendations were probably the result of
A. the purchases she had made.
B. purchases other customers had made that day.
C. manufacturer clearances and overruns.
D. products she may have returned to the company.
E. items the retailer no longer carries.
Answer:
If you send an e-mail and include a link, you can track how many people took the
desired action of clicking on the link. This is known as
A. the click-through rate.
B. impressions.
C. frequency.
D. gross rating points.
E. reach.
Answer:
__________ are combating competitive pressures by increasing the amount of
exclusive and private-label merchandise they sell, and expanding their online presence.
A. Convenience stores
B. Department stores
C. Full-line discount stores
D. Extreme value stores
E. Off-price retailers
Answer:
The point at which the number of units sold generates enough revenue to equal the total
costs of running an operation is known as the
A. contribution per unit.
B. fixed cost margin.
C. break-even point.
D. unit cost.
E. marginal revenue.
Answer:
With a __________ pricing strategy, marketers set a low initial price for the
introduction of a new product or service.
A. market penetration
B. bundling
C. price fixing
D. reference
E. skimming
Answer:
Four Winds Art Gallery recently began offering appraisals of customers' art collections,
in addition to continuing to sell paintings. Four Winds is
A. expanding from offering just services to also offering goods.
B. implementing a market segmentation strategy.
C. capturing value through multiple pricing strategies.
D. expanding from offering just goods to also offering services.
E. increasing customer value through inflated appraisal evaluations.
Answer:
Once consumers have recognized a need, they begin to search for ways to satisfy that
need. The internal search is characterized by
A. looking through the internal records of a firm, often found on the company website.
B. examining personal memories and knowledge.
C. using the Internet to find what other consumers feel about a specific product or
service.
D. consulting close friends and families before expanding the search to a wider, external
group.
E. being influenced by advertising.
Answer:
Some products may stay comfortably in the maturity phase of the product life cycle
until a new product emerges to replace them. An example of such a mature product is
A. e-books.
B. refrigerators.
C. the VCR.
D. smartphones.
E. None of these; no product can stay in the maturity phase and survive for very long.
Answer:
Of the various types of blogs, which one do marketers have the lowest level of control
over?
A. personal
B. corporate
C. professional
D. corporate microblogs
E. professional microblogs
Answer:
In the Circles for a Successful Value Proposition framework, the value proposition is
represented by
A. the intersection between customer needs/wants and competitors' benefits.
B. the intersection between the firm's benefits and competitors' benefits.
C. the intersection between customer needs/wants and the firm's product's benefits.
D. the intersection between all three of the circles.
E. the part of the firm's benefits that doesn't overlap with anything.
Answer:
When the marketing research problem is not clearly defined, a researcher will likely
engage in __________ research.
A. data mining
B. qualitative
C. survey
D. quantitative
E. experimental
Answer:
Earl was known for driving 30 miles just to save a dollar on the price of his favorite
beverage. Earl perceived price as _______ for a good or service, while most consumers
recognize price as the _______ made to acquire a good or service.
A. the money paid; overall sacrifice
B. a variable cost; fixed cost
C. a fixed cost; variable payment
D. the overall sacrifice; monetary payment
E. the break-even amount; total cost
Answer:
A regional manager at GNC, a chain of retail stores selling nutritional supplements, is
reviewing sales data after a recent in-store promotion. The data show success in some
stores and limited response in others. To understand the differences between stores, the
manager will probably next review the company's
A. financial statements, to investigate current and past profits.
B. brand awareness study, to assess national levels of awareness.
C. implementation programs, to see if the promotion was handled consistently in the
different stores.
D. mission statement, to see if it needs adjusting.
E. analysis of national trends in vitamins and herbal supplements, to help predict future
sales.
Answer:
Markham Publishing is known for its consultative buying center culture. Recognizing
this corporate culture, someone attempting to sell to Markham Publishing should
A. treat all members of the buying center as equally important.
B. address the concerns of all members of the buying center with particular attention to
the decision maker.
C. focus on providing information to and making the sales approach to the one decision
maker.
D. attempt to facilitate the collective agreement of all members of the buying center.
E. focus attention on the gatekeeper in the buying center's team.
Answer:
After need recognition, a business develops __________ that suppliers might use to
develop their proposals.
A. derived demand
B. initiator instructions
C. determinant attributes
D. product specifications
E. focal alternatives
Answer:
A __________ is an advertisement that focuses on public welfare issues.
A. product-focused advertisement
B. consumer-generated advertisement
C. public service announcement
D. reminder advertisement
E. push strategy
Answer:
In a classic example of segmentation strategy, years ago Swift Meat Company
transformed turkey meat into "Butterball" turkeys. In doing so, the company
A. differentiated its product.
B. streamlined its delivery process.
C. created a new class of micromarketing.
D. defined consumers' basic needs.
E. redefined mass customization.
Answer:
Marketers are particularly interested in postpurchase behavior because it
A. involves both compensatory and noncompensatory consumers.
B. offers insights into information search methods.
C. avoids situational conflicts.
D. involves actual rather than potential customers.
E. involves both actual and potential customers.
Answer:
Price reductions offered on products and services to stimulate demand during off-peak
seasons are referred to as
A. markdowns.
B. seasonal discounts.
C. price lining.
D. predatory pricing.
E. zone pricing.
Answer:
Florida Heat Pump Manufacturing Company is offering a free, all-expenses-paid trip to
Las Vegas for HVAC dealers that sell at least 20 units this year. Florida Heat Pump is
using a __________ promotional strategy.
A. pull
B. puffery
C. publicity
D. push
E. posttesting
Answer:
The results of the 2010 census suggest what about the 42 million African American
U.S. households?
A. They are more affluent and suburban.
B. They are younger and less affluent.
C. They are less affluent, but more suburban.
D. They are older and less affluent.
E. They are older and more urban.
Answer:
The value of the euro has changed significantly since 2002 with the problems
experienced by several European economies. This change in value is called
A. interest destabilization.
B. inflation.
C. recession.
D. foreign currency fluctuations.
E. global financial impact.
Answer:
During the period 1920-1950, what changes in the United States contributed to the shift
from a production orientation to a sales orientation?
Answer:
The CEO of your firm, a distributor for a domestic beer manufacturer, has asked you to
take on a special project. She has been hearing about a growing trend toward corporate
social responsibility, but wonders if this is a reasonable investment for the firm. Outline
the costs and benefits in general terms and draw your own conclusion for her
consideration.
Answer:
How can sales representatives save time for customers?
Answer:
Paul wants to work for a firm that demonstrates corporate social responsibility. Draw up
a list of questions Paul could use in an interview to determine the level of commitment
of potential employers.
Answer:
Respond to the question, "Which is a more important corporate objective: making a
profit, or obtaining and keeping customers?"
Answer:
How do the economic factors of inflation, foreign currency fluctuations, and interest
rates affect firms' ability to market goods and services?
Answer:
Suppose that six months ago, Levi Strauss began working with a new vendor for
zippers, snaps, and other hardware used on its jeans. Now the buying center wants to
assess the new vendor's performance. Describe how the Levi Strauss might perform this
assessment. Be specific.
Answer:
How are the B2B and B2C buying processes different?
Answer:
Fred's Heating and Air Conditioning Service is considering using the slogan, "We fix it
the first time, every time." Why might this slogan be a bad idea if Fred wants to
maximize postpurchase satisfaction? Create a better slogan for Fred.
Answer:
An Uncle Ben's box of rice has a symbol stating that the packaging is made from 100
percent recycled material and encourages consumers to recycle. Identify the social trend
being addressed by Uncle Ben's.
Answer:
What are the most important elements in the presentation of marketing research results?
Answer:
What is the difference between alpha testing and beta testing?
Answer:
Why do many people think advertising and marketing are synonymous?
Answer:
You and your friend Alison work in different parts of a large firm. In a recent analysis,
your area was labeled a "cash cow" and hers was labeled a "question mark." What
things would you do differently in your area than Alison would do in hers?
Answer:
The text describes Southwest Airlines, which operates in a competitive market but
successfully differentiates itself from the competition. This gives Southwest a
sustainable competitive advantage. What is a sustainable competitive advantage?
Describe an example of a product or business you have encountered that has developed
sustainable competitive advantage. Why is that product's or firm's advantage
sustainable?
Answer:
Irvina is a general practice physician. Her office includes a number of nurses, clerical
assistants, and a physician's assistant. She runs a well-organized practice, but she
depends on a variety of corporate partners to create value for her patients. Who are
likely to be Irvina's corporate partners and how do they help or hinder her efforts to
create value?
Answer:
When musicians and their concert promoters began offering CDs of a live concert
immediately after the concert ended, what type of growth strategy were they pursuing?
Answer:
Jamie, a sales manager for an industrial materials company, reviews each sales
representative's performance quarterly. She knows business has been good, but is
surprised to see some reps are selling much more than their goals while others are not
meeting their goals. What should Jamie do?
Answer:
Why is recruitment such an important part of sales management?
Answer:
