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Tasha was selling siding and her boss told her that she could hide an extra charge for
trim in the total, even though the customer was told he would not be charged for trim.
Tasha was told this was standard practice for the siding company. If the customer takes
legal action for this, who is most likely liable?
A. the customer for not checking the order more carefully
B. Tasha only, because she wrote the order
C. Tasha's boss only, since he told her to do it
D. both Tasha and the siding company, because both intentionally misled the customer
E. no one, because this would be considered a victimless crime
Answer:
Because there are only a few firms in markets with oligopolistic competition,
A. everyone is a price taker.
B. producers do not have to consider the reactions of rival firms.
C. government often encourages consolidation to reduce the number of competitors.
D. price wars may occur.
E. the many competitors will focus on product differentiation.
Answer:
When referring to "exchange," marketers are focusing on
A. the location where products and services are traded.
B. the price charged, adjusted for currency exchange rates.
C. location-based tactics for creating value.
D. promotional offers designed to stimulate barter.
E. the trading of things of value.
Answer:
The phrase "birds of a feather flock together" captures the idea of __________
segmentation.
A. geodemographic
B. benefit
C. psychographic
D. loyalty
E. geographic
Answer:
Which of the following factors, listed in a situation analysis for a major U.S. auto
manufacturer, is the best example of an opportunity?
A. The factory that manufactures a new, popular car cannot build enough vehicles to
meet the demand, while other factories have excess capacity.
B. Recent consumer studies have indicated that Chinese consumers prefer American
cars.
C. A New York law firm has filed a $10 million class action suit against the company on
behalf of car owners whose gas tanks exploded.
D. Due to outdated engine technology, the company's cars get lower gas mileage than
those of major competitors.
E. The company has lower manufacturing costs than its key competitors, allowing it to
sell its cars at low prices.
Answer:
Which of the following is a pricing model for apps discussed in your text?
A. cost-plus
B. ad-supported
C. premium
D. per-use
E. data-driven
Answer:
Sally has been having a difficult time working with a particular buyer while using the
personal selling process, and she has asked her manager, Chris, for some ideas about
how to close the sale effectively. Chris asks her a number of questions to help sort out
the difficulties. Which of the following questions would Chris be least likely to ask?
A. "What does the buyer's body language tell you about her readiness to buy?"
B. "Did you skip any steps in the process?"
C. "Are there any reservations that have not been addressed to the buyer's satisfaction?"
D. "Have you completed the follow-up to ease the buyer's mind?"
E. "Should you go back to an earlier stage in the process and start the process over from
there?"
Answer:
Which of the following is currently a negative factor for foreign investment in India?
A. India's population is fairly old and aging fast.
B. India's infrastructure for supply chain management is not up-to-date.
C. India prevents foreign investors from entering into joint ventures.
D. India has no shopping malls or other large commercial centers.
E. India lacks a skilled workforce.
Answer:
Which of the following is currently a negative factor for foreign investment in Russia?
A. The Russian population is poorly educated.
B. Russian consumers have little interest in online shopping.
C. Russia is known for corruption, creating ethical dilemmas for firms.
D. Russian consumer markets are saturated, offering few opportunities for goods from
U.S. companies to sell well.
E. Few Russians have access to the Internet due to heavy regulation.
Answer:
Some companies have been accused of taking advantage of the current social trend of
green marketing, positioning their products as environmentally friendly when this may
not actually be the case. This is called
A. fake greening.
B. greenwashing.
C. greenbaiting.
D. green puffery.
E. red marketing.
Answer:
Fernando was thrilled to find out that his company had just decided to invest a great
deal of money in the product he was managing. He knows that even with its recent high
rate of growth and the fact that it dominates its market, he would need more money to
establish it firmly. Using the BCG portfolio analysis, his product would be classified as
a(n)
A. star.
B. cash cow.
C. question mark.
D. dog.
E. anchor.
Answer:
Which of the following is a social trend listed in the text?
A. thrift
B. health and wellness
C. environmental legislation
D. economic concerns
E. technological advances
Answer:
In a competitive market, perceived value is determined by consumers mostly
A. by quantitative analysis of brand personalities.
B. in relationship to the value of competitors' offerings.
C. by weighing primary versus secondary benefits.
D. by trying out different products.
E. through brand association and brand licensing.
Answer:
__________ represents the systems and equipment resources that service providers
need to be able to close the delivery gap.
A. Service infrastructure
B. Quality mechanics
C. Instrumental support
D. Dynamic support
E. Customer interface architecture
Answer:
Campbell's Soup Company ran a series of radio ads tied to local weather forecasts.
Before an impending storm the ads said, "Time to stock up on Campbell's Soup."
During the storm the ads said, "Stay home and stay warm with Campbell's Soup." The
first ad was __________ advertising, while the second ad was __________ advertising.
A. informative; persuasive
B. persuasive; reminder
C. reminder; persuasive
D. discussive; informative
E. institutional; persuasive
Answer:
China has three main languages, and many more dialects. This presents a particular
challenge to developing a global ________ strategy.
A. communication
B. product
C. cultural
D. distribution
E. pricing
Answer:
Malcolm is the campaign manager for a congressional candidate. He wants to know
how voters across his district feel about recent sexual harassment scandals involving
politicians. Malcolm will most likely use __________ to gather this type of data.
A. surveys
B. observation
C. experiments
D. voter registration data
E. census data
Answer:
A __________ limits the quantity of imported merchandise, thus minimizing
competition faced by domestic products.
A. tariff
B. duty
C. trading bloc
D. trade agreement
E. quota
Answer:
Carlos has identified four potential market segments for his Rent-A-Nurse service. He
will now compare the segments to see if they are distinct from each other. Carlos is
evaluating whether or not each segment is
A. identifiable.
B. responsive.
C. profitable.
D. reachable.
E. substantial.
Answer:
For B2B salespeople, usually the easiest sale is a(n) __________ situation.
A. adapted buy
B. new buy
C. modified rebuy
D. straight rebuy
E. generic buy
Answer:
__________ occurs when the brand extension adversely affects consumer perceptions
about the attributes the core brand is believed to hold.
A. Corporate branding
B. Brand extraction
C. Brand collusion
D. Brand personality destruction
E. Brand dilution
Answer:
Which of the following is based on the principle that everything we need for our
survival and well-being depends either directly or indirectly on our natural
environment?
A. Corporate Social Responsibility
B. Sustainability
C. Business ethics
D. Marketing ethics
E. Ethical climate
Answer:
What is the best situation in the Circles for a Successful Value Proposition framework?
A. The firm's benefits overlap with both customer needs/wants and competitors'
benefits.
B. The firm's offering overlaps with customer needs/wants but not with competitors'
offerings.
C. The firm's offering overlaps with competitors' benefits but not with customer
needs/wants.
D. Customer needs/wants overlap with both the firm's benefits and competitors'
benefits.
E. None of the three circles overlaps.
Answer:
Today, when a customer orders merchandise from an online vendor, the vendor usually
sends an immediate order confirmation message by e-mail. Usually within a day or two,
a second message arrives stating that the order is in the mail. This second message is a
type of
A. vertical contractual notice.
B. VMI requirement.
C. advanced shipping notice.
D. universal product code report.
E. RFID tag.
Answer:
Rodi owns Hallman's auto repair service. He has observed over the years that customers
keep their high-mileage cars longer when the economy is doing poorly, creating
demand for his maintenance and repair service. Rodi has observed the impact of
_______ on demand for his service.
A. break-even points
B. the price inelasticity ratio
C. the income effect
D. the target return effect
E. cross-price elasticity
Answer:
Cross-price elasticity is the
A. percentage change in quantity of a product demanded divided by the percentage
change in its price.
B. percentage change in quantity demanded of product A compared to the percentage
change in price of product B.
C. change in price of product A divided by change in quantity demanded for product B.
D. change in quantity of a product demanded divided by the change in its price.
E. change in quantity of a product demanded divided by the change in its elasticity.
Answer:
Customer retention programs are based on what concept?
A. Customer excellence is the easiest macro strategy to follow.
B. Customer relationships should be viewed from a lifetime value perspective.
C. It is important to maximize profits in the first few months of a customer relationship.
D. Segmentation, targeting, and positioning analysis should not be rushed.
E. Firms must spend large amounts of money to retain customers.
Answer:
While training for her new job as a pharmaceutical sales representative, Mallory spent
several days shadowing an experienced company rep. She watched the rep focus on the
benefits of the new drugs while not volunteering pricing information, side effects, or
comparison data. Mallory assumed that this reflected part of the pharmaceutical firm's
A. buying center.
B. culture.
C. mission statement.
D. corporate social responsibility.
E. RFP process.
Answer:
Marketers with successful brands sometimes hesitate to expand their brands because
A. Federal Trade Commission regulations limit the number of products that can be
marketed under an individual brand name.
B. it is costly to maintain many product lines, and it might weaken the brand's meaning.
C. it is often difficult to get additional marketing communications coverage for the
brand.
D. manufacturing divisions usually control brand expansion and are often in conflict
with the marketing division.
E. the current economy can support only a limited number of product options.
Answer:
When Yolanda asked her firm's advertising agency to estimate how often consumers
saw her firm's IMC message and what percentage of the target audience was exposed to
the message, she was told the reach was 40, the frequency was 4, and the competitive
parity was 10. The gross rating points for her firm's campaign were
A. 160.
B. 1,600.
C. 400.
D. 40.
E. The answer cannot be determined from this information.
Answer:
Because services are intangible, it is often difficult for customers to determine how a
service meets their expectations, which marketers call
A. service perceptions.
B. service efforts.
C. service quality.
D. service aspirations.
E. service feedback.
Answer:
Typically, manufacturers and retailers exchange business documents through a(n)
__________ system, the computer-to-computer exchange of business documents from a
retailer to a vendor and back.
A. cross-docking exchange
B. electronic data interchange
C. vendor-managed inventory
D. vertical conflict reduction
E. radio frequency identification
Answer:
The global athletic footwear market is expected to experience only very slow growth
over the next several years. Nike is the market leader. According to Boston Consulting
Group portfolio analysis, how should Nike treat its athletic shoe business?
A. Nike will probably have to invest heavily in the athletic shoe business, including
extensive promotions and new production facilities.
B. Nike should consider exiting the athletic shoe market.
C. Nike should stop investing in its athletic shoe business; it has already reaped all the
benefits it is likely to receive.
D. Nike's athletic shoe business still requires some investment, but is likely to produce
excess resources that can be invested in other divisions of the company.
E. Nike should invest in the athletic shoe market only if it helps boost the sales of other
products in fast-growing markets.
Answer:
General Electric is developing a new magnetic resonance imaging (MRI) device to be
marketed to family practice physicians. These new machines will be much smaller and
less expensive than the existing MRI machines now in most hospitals. What factors will
probably affect the diffusion of these new machines?
Answer:
Gaetana is the new marketing director for a local theater. One of her major
responsibilities is to monitor and manage aspects of the theater's immediate
environment. What will Gaetana monitor and manage?
Answer:
Describe an extreme value retailer. Who is their target customer and what does this
customer seek?
Answer:
After her first year in college, Veronica wants to decide on a major. What internal and
external sources of information will she use to help her in making a decision?
Answer:
What five components should be taken into consideration when a company is
developing its pricing objectives?
Answer:
Define qualitative research and list two examples of qualitative data collection
techniques.
Answer:
Deonna has been asked to write a marketing plan for a new restaurant. What questions
will Deonna likely address in her marketing plan? Be specific and offer questions
related to a restaurant.
Answer:
For years Mark sold new cars, but he and his wife recently grew tired of city life and
moved to a beach town. Now he sells costume jewelry (made by his wife) at an open-air
market near the ocean. To be successful, what will Mark have to recognize about the
difference between consumers' problem solving processes for cars and costume
jewelry?
Answer:
The Crystal Beach Resort has a five-star rating and wants to keep it that way. The resort
has specific standards for service and has trained its employees to deliver service
according to these standards, but even one unhappy customer could endanger the
resort's reputation. What can the manager do to ensure that frontline employees offer
consistent, excellent service to every visitor?
Answer:
How could you use marketing ideas to market yourself to potential employers after you
graduate?
Answer:
Identify how a company that manufactures salt can use a differentiated targeting
strategy.
Answer:
Name the various partners in the supply chain and give one example of how each one
might be impacted in a fictitious situation.
Answer:
Explain how the demand curve works, and how it benefits a firm.
Answer:
You see an advertisement for an internship with Best Buy to work with its regional
dispatcher. The advertisement describes the types of activities associated with working
in dispatching. What sorts of activities would you expect the ad to list?
Answer:
How does the shopping situation affect consumer behavior, both positively and
negatively?
Answer:
Briefly describe the three phases of the strategic marketing planning process and give
one example of an ethical dilemma that might arise during each phase.
Answer:
How do the economic factors of inflation, foreign currency fluctuations, and interest
rates affect firms' ability to market goods and services?
Answer:
Create three one-sentence advertising messages for the nearest fast-food restaurant: one
that is informative, one that is persuasive, and one that is a reminder ad.
Answer:
What is brand extension? Provide an example of brand extension.
Answer:
