MET 13458

subject Type Homework Help
subject Pages 16
subject Words 3531
subject Authors E. Jerome Mccarthy, Joseph Cannon, William Perreault Jr.

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Concerning consumer and business markets:
A. promotion to consumer markets usually relies more heavily on the use of personal
selling.
B. it is often easier to define customer needs in business markets.
C. a marketing mix directed at an organizational customer is usually less precisely
adjusted to the needs of the specific customer.
D. None of these alternatives is correct.
Answer:
A marketing manager who wants to apply the "hierarchy of needs" model should keep
in mind that:
A. most consumers are already satisfied and promotion will be needed to "create a
need."
B. the same marketing mix might satisfy two or more levels of need.
C. not enough attention is focused on physiological needs.
D. 'social needs" focus on the psychological variables in consumer behavior.
E. None of these alternatives is correct.
Answer:
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The role of "channel captain":
A. should be taken by producers because they have more power.
B. is to force other channel members to accept the channel captain's plan.
C. should be taken by retailers because they are closer to consumers.
D. may not be necessary if the channel members are satisfied with the 'status-quo."
E. is to help a channel system compete more effectively with other channel systems.
Answer:
The Price area of the marketing mix:
A. requires consideration of the cost of the marketing mix and the competition facing
the firm when setting prices.
B. does not involve estimating consumer reaction to possible prices.
C. refers to any paid form of nonpersonal presentation of ideas, goods, or services by an
identified sponsor.
D. does not include the consideration of geographic terms in price setting.
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E. None of these is correct.
Answer:
According to estimates, which of the following countries has 100 percent literacy?
A. Norway
B. Singapore
C. Italy
D. India
E. China
Answer:
If members of the target market for an Apple iPad do not initially recognize the brand
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name, but compelling advertising results in more members remembering the brand, we
say the Apple iPad has achieved:
A. brand rejection.
B. brand preference.
C. brand nonrecognition.
D. brand insistence.
E. brand recognition.
Answer:
Product-market screening criteria should:
A. be qualitative.
B. summarize in one place what the firm wants to accomplish.
C. be achievable.
D. be stated in quantitative terms.
E. All of these are correct.
Answer:
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If a brand consistently delivers on a promise that purchasers consider important, those
purchasers are likely to develop a _______ for the brand.
A. disliking
B. trust
C. demand
D. mistrust
E. tolerance
Answer:
A ____ is a group of potential customers with similar needs who are willing to
exchange something of value with sellers offering various goods or services.
A. segment
B. market
C. product
D. consumer forum
E. generic industry
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Answer:
Which of the following statements about social class is false?
A. The various classes tend to have different attitudes.
B. The various classes tend to save money in different ways.
C. Income by itself can be a pretty good measure of social class.
D. The various classes tend to have different beliefs.
E. The various classes tend to borrow money in different ways.
Answer:
Which of the following statements is FALSE?
A. Marketing is most important in a pure subsistence economy.
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B. Marketing should provide direction for production, accounting, and financial
activities.
C. Marketing builds long-lasting relationships that benefit the selling firm.
D. Marketing doesn't occur unless two or more parties are willing to exchange
something for something else.
E. Marketing anticipates customer needs.
Answer:
A _____ is the complete set of firms, facilities, and logistics activities that are involved
in procuring materials, transforming them into intermediate or finished products, and
distributing them to customers.
A. supply chain
B. physical distribution group
C. logistics partnership
D. just-in time group
E. none of these alternatives is a good answer
Answer:
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According to your text, which of the following is an example of a "new product"?
A. An existing product that has been modified in some way.
B. An existing product for which new uses have been found in other product-markets.
C. A wholly new product idea.
D. An existing product being offered to new markets.
E. All of these are examples of a "new product."
Answer:
NAFTA:
A. is a free-trade pact between the U.S., Canada, and Mexico.
B. is a long-term proposition.
C. has already eliminated most trade barriers with Mexico.
D. all of these are correct.
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Answer:
Limited problem solving is used
A. when consumers put much effort into deciding how to satisfy a need.
B. for purchases that have little importance or relevance for the customer.
C. by consumers when some effort is required in deciding the best way to satisfy a
need.
D. when consumers regularly select a particular way of satisfying a need when it
occurs.
E. mostly for impulse purchases.
Answer:
Ideas about potential new products should
A. be encouraged from any and all sources, since only a few ideas will develop into
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successful products.
B. not be eliminated from consideration until they have been tested in the
commercialization stage.
C. come primarily from employees of the firm-so that time won't be wasted evaluating
product ideas that are inconsistent with the firm's objectives and resources.
D. come from outside the firm, since studies show that really new ideas require a fresh
perspective.
E. None of these alternatives is correct.
Answer:
Intensive distribution:
A. gives a retailer more incentive to promote a product than he would have with
exclusive distribution.
B. is not very likely to be used in combination with multichannel distribution.
C. is more likely to be used with relatively high priced products than with low priced
products.
D. is often used for convenience products and business supplies.
E. none of these alternatives is correct.
Answer:
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Final customers or users are normally asked to pay ______________ prices for
products they buy.
A. basic list
B. phony list
C. discounted
D. wholesale list
E. unchanging list
Answer:
The Sherman Act and the Federal Trade Commission Act:
A. were passed to make it difficult for small companies to win customers away from
large companies.
B. are not taken seriously, since there are no penalties for violations.
C. are quite different, with the FTC Act focusing on stopping deceptive business
practices and the Sherman Act focusing on controlling monopolies.
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D. are just different names for the same thing-a law proposed by Sherman to establish
the Federal Trade Commission.
E. were passed to protect consumers from abuses by business, rather than to protect
some businesses from others who had an "unfair" advantage.
Answer:
Which degree of market exposure would probably be most suitable for a heterogeneous
shopping product which has achieved brand preference and sells for about $300?
A. Concentrated distribution
B. Selective distribution
C. Administered distribution
D. Intensive distribution
E. Exclusive distribution
Answer:
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Use the following information to answer question that refer to the Jewel Craft case.
Jewel Craft, Inc. is a leading producer in the United States' women's costume jewelry
and accessories market. Its brands are well known and are sold by department stores
and better women's stores. Several stores in a city may carry Jewel Craft's brands
because most of Jewel Craft's customers will not consider any other brand.
Jewel Craft's sales force calls on one wholesaler in each state. Gemco, Inc., of Boston,
Massachusetts, is the Jewel Craft distributor in that state. Gemco stocks and sells
women's accessories (noncompeting lines) for several manufacturers like Jewel Craft.
Wholesalers are allowed a 20 percent markup by Jewel Craft-but pay the freight
charges to their warehouses. Jewel Craft's policy of using one wholesaler per state
comes from its desire to control its distribution. Jewel Craft uses national magazine
advertising and also supports a cooperative ad program with retailers.
Jewel Craft's prices allow for a 40 percent retail markup-an attractive percent when one
considers that Jewel Craft's products require little in-store selling because of their
well-established reputation.
Recently, Jewel Craft was approached by a watch producer with the idea of expanding
to watches under the Jewel Craft name. It was argued that although national watch sales
have leveled off, Jewel Craft could enjoy growing sales for several years because of the
fine reputation the company has achieved. If watches are added, Jewel Craft will use its
present policies regarding distribution, pricing, and advertising. Further, it will offer the
wholesalers and retailers an attractive "package" deal as an incentive to carry Jewel
Craft watches. Intermediaries will be required to carry the watches if they wish to
handle the jewelry and accessories.
When selling Jewel Craft's jewelry and accessories, a retail clerk's major role usually
would be:
A. missionary selling.
B. supporting selling.
C. retailing.
D. order taking.
E. order getting.
Answer:
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Which of the following promotional objectives is most likely being accomplished when
a window company compares its windows to those of a competitor to show
homebuilders why its products are superior?
A. Planning
B. Rebutting
C. Persuading
D. Reminding
E. Informing
Answer:
Dow Chemical hires science and engineering graduates to explain the advantages of its
products-and how to dispose of them in an environmentally friendly manner-to
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prospective customers. What type of salesperson is this?
A. Order getter
B. New-account salesperson
C. Order taker
D. Consultative salesperson
E. Technical specialist
Answer:
When a company creates a rating form for its suppliers and rates their on-time delivery,
product quality, service advice, and so forth, in order to determine which suppliers to
put on an approved list of suppliers for specific products, this process is called a(n):
A. JIT rating.
B. resident buyer analysis.
C. vendor analysis.
D. ISO 9000 certification.
E. buying center analysis.
Answer:
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Marketing research:
A. usually requires complex statistical techniques, so marketing managers should leave
planning of the research to the research specialists.
B. is likely to be more effective when guided by the strategy planning framework.
C. should gather as much information as possible.
D. begins by analyzing the situation.
E. All of these alternatives about marketing research are correct.
Answer:
After seeing a 'sale" ad in a local newspaper, Ben Griffith went to a local pet supply
store and bought a year's supply of high protein dog food. Which marketing functions-if
any-did he perform?
A. Financing and risk taking.
B. Transporting and storing.
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C. Market information.
D. Buying.
E. Ben performed all of these marketing functions.
Answer:
Regarding promotion methods, which of the following statements is TRUE?
A. Personal selling can provide immediate feedback.
B. Publicity is "free," but usually is ineffective for really new products.
C. Advertising is usually more tailored to the individual needs and attitudes of target
customers than personal selling.
D. Sales promotion activities produce results very slowly compared to advertising.
E. All of these statements about promotion methods are TRUE.
Answer:
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Use this information for question that refer to the Centerville Retailers and Wholesalers
case.
Carol Lamb has lived in Centerville all her life. She owns a retail store that sells hobby
and craft supplies. She bought the store after working there for 7 years. Carol has just
been asked to head up the Retailers and Wholesaler Group of the Centerville Chamber
of Commerce. The most active chamber members in her group are described below:
Walden's Leather is part of a regional chain of stores that sells leather goods-mostly
men's and women's clothing-with the upscale Walden's brand name. Walden's primarily
relies on its own stores where knowledgeable salespeople offer great service. Walden
products are also sold, on a limited basis, in some fine department stores.
Publisher's Helper is a small business started by Audrey Yang that provides and stocks
display racks for paperback books and magazines. Most retailers welcome the service
Audrey provides, in part because she does her own research to determine which
paperback books and magazines sell best in Centerville.
Cuzco's is Centerville's alternative to Walmart. The store sells a wide variety of
merchandise. The company used to concentrate its product mix on small appliances-but
now Cuzco's carries any product that it can sell profitably. Its low prices stimulate faster
turnovers and higher sales volumes.
Games Unlimited sells video games. Jamie Carraway, who owns the local store, signed
a contract with Games Unlimited and follows strict rules covering her store's operations
and the Games Unlimited marketing strategy. She pays that company a fee for
promotion it provides as well as commissions on her sales.
Johnson's Health and Beauty Supplies sells cosmetics and other health and beauty
products to retailers and salons throughout the greater Centerville area. It owns the
goods it sells to these retailer customers, and it provides all the wholesaling functions
they need.
Valu Grocer is an independent grocery store that belongs to an organization sponsored
by a large food wholesaler. The fifty stores grocery stores that share the Valu Grocer
name are linked by contracts that include basic operating procedures, storefront designs,
and joint promotion efforts.
Reddy and Sons sells equipment for several different manufacturers of plastic molding
in the Centerville area. It earns a commission from each manufacturer on the products it
sells for that manufacturer, but it does not take ownership of the equipment it sells nor
does it install the equipment.
Katrina's Salon started out as a low-status, low-price, low-margin hair salon 15 years
ago. After some success, the company moved into a nicer storefront, raised prices, and
now operates in the middle of the market.
Which of the following terms best describes Publisher's Helper business?
A. Rack jobber
B. Broker
C. Drop shipper
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D. Selling agent
Answer:
Wendy's continues to come out with new offerings like stuffed pitas. This suggests that
Wendy's is pursuing _____________.
A. marketing myopia
B. mass marketing
C. product development
D. market development
E. diversification
Answer:
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Which of the following observations about learning is NOT true?
A. Learning is rarely based on direct experience.
B. Consumer learning may result from things that marketers do.
C. Learning can be based on indirect experience or associations.
D. Consumer learning may result from stimuli that have nothing to do with marketing.
E. Almost all consumer behavior is learned.
Answer:
Which of the following would NOT be included in a firm's total variable cost?
A. Outgoing freight
B. Packaging materials
C. Depreciation on buildings
D. Expenses for parts
E. Sales commissions
Answer:
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Business-to-business markets, with very large customers, have typically:
A. treated customers individually as segments of one.
B. mass marketed the same products to all customer segments.
C. delivered the same marketing mix to all customer segments.
D. reduced their personalization efforts to the lowest levels possible.
E. avoided applying the principles behind customer relationship management.
Answer:
Which of the following laws focuses specifically on price discrimination?
A. Robinson-Patman Act
B. Magnuson-Moss Act
C. Sherman Act
D. Wheeler-Lea Act
E. Federal Trade Commission Act
Answer:

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