Dependability is the consistency of replenishment. This is important to all firms in a
supply chain and to consumers. It can be broken into three elements: consistent lead
time, safe delivery, and __________.
A. complete delivery
B. honest and accurate pricing
C. quality products
D. product warranties
E. a well-informed delivery staff
Answer:
In Latvia, only one six-lane highway exists, connecting Riga, its capitol, with Moscow.
Otherwise, the roads are two-lane and many are made of cobblestones or bricks. This
limits the speed with which deliveries can be made and requires that delivery trucks be
quite small. The road network in Latvia is an example of problems with a country’s
A. capital improvements.
B. fixed-asset base.
C. geopolitical wealth.
D. asset wealth.
E. economic infrastructure.
Answer:
Extending credit to customers would be an example of a __________ function
performed by channel intermediaries.
A. transactional
B. logistical
C. facilitating
D. buying
E. risk taking
Answer:
In terms of the global marketplace, there are three primary types of companies:
international firms, multinational firms, and __________ firms.
A. multiethnic
B. transnational
C. multidomestic
D. ethnocentric
E. meganational
Answer:
Which of the following new products is the best example of the LOWEST level of risk
from the company’s point of view?
A. adding Ball Park Beef Franks with Cheese to the Ball Park Franks line
B. moving from production of land-line telephones to smartphones
C. marketing the first Apple computer
D. changing the formula from Coca-Cola to New Coke and then back to Coca Cola
Classic
E. offering online marketing classes rebranded under a new college name
Answer:
Yahoo! allows its users to create a web page by picking the content they want (stock
quotes, weather conditions, etc.) and deciding how they want it to look (colors, themes,
and layouts). This consumer-initiated practice is an example of
A. permission marketing.
B. personalization.
C. transactional website.
D. collaborative filtering.
E. customerization.
Answer:
Online content that is published on a publicly accessible website or social networking
site is a criterion of
A. social networks.
B. user generated content (UGC).
C. blogs.
D. wikis.
E. YouTube.
Answer:
The Arizona Biltmore in Phoenix is a resort hotel located less than a mile away from
the Biltmore Fashion Park, a large upscale shopping mall. The hotel wants to promote
its proximity to the shopping center as well as its many other amenities to
convention-goers from other states. Which of the following marketing actions would
most likely help The Arizona Biltmore communicate with potential convention
attendees?
A. Place an ad in the in-flight magazines of all the major airlines targeting business/first
class flyers.
B. Send a mass mailing to all local businesses.
C. Set up information kiosks at several locations within the Biltmore Fashion Park.
D. Offer free made-to-order breakfasts for guests staying at the hotel on business.
E. Offer special discount rates to guests coming from the East Coast.
Answer:
All of the following are output-related sales objectives EXCEPT:
A. unit sales
B. profit
C. number of new customers
D. number of sales calls
E. dollar sales
Answer:
The second stage in the consumer purchase decision process involves searching for
information, which may include an internal search and/or an external search. What is
this stage called?
A. postpurchase behavior
B. alternative evaluation
C. purchase decision
D. problem recognition
E. information search
Answer:
A direct channel is when
A. producers and end-users deal with each other on a one-on-one basis.
B. the producer and consumer and perform numerous channel functions.
C. a firm reaches different buyers by employing two or more different types of channels
for the same basic product.
D. an intermediary sells to other intermediaries, usually to retailers in consumer
markets.
E. an agent or broker brings ultimate consumers to manufacturers.
Answer:
In the VALS framework, consumers motivated by achievement look for products and
services that demonstrate success to their peers or to a peer group they aspire to. One
segment of the two achievement-motivated groups, known as __________, have a busy,
goal-directed lifestyle and a deep commitment to career and family. Image is important
to them.
A. Experiencers
B. Believers
C. Makers
D. Achievers
E. Thinkers
Answer:
Which of the following products has the brand name that best suggests its benefit
according to the six criteria for selecting a good brand name?
A. Spam canned meat
B. Ken’s salad dressing
C. Formula 409 cleaner
D. Match Light charcoal
E. Bayer aspirin
Answer:
Customary pricing refers to
A. a pricing method where the price the seller quotes includes all transportation costs.
B. setting the same price for similar customers who buy the same product and quantities
under the same conditions.
C. deliberately selling a product below its list price to attract attention to it.
D. setting a price that is dictated by tradition, a standardized channel of distribution, or
other competitive factors.
E. pricing based on what the market will bear.
Answer:
Bots contribute to the convenience of online shopping because they
A. reduce time spent online.
B. allow customers to make online comparisons of prices and product features.
C. permit customers to design one-of-a-kind items that fit their specific needs.
D. allow customers to engage in an electronic dialogue with marketers.
E. offer customers almost any product or service they want.
Answer:
After watching a 30-second commercial from Jared for fine jewelry, Mariah was certain
the necklace she saw would look spectacular with her new formal dress. In terms of the
communication process, Mariah engaged in the task of __________.
A. integrating
B. sending
C. decoding
D. messaging
E. encoding
Answer:
Behavioral segmentation may be based on
A. lifestyles and demographics.
B. retailer and wholesaler behaviors.
C. geographic and demographic criteria.
D. product features and retail store type.
E. demand and supply.
Answer:
Buzz is a particularly influential force. According to Jeff Bezos, president of
Amazon.com, “If you have an unhappy customer on the Internet, he doesn’t tell his six
friends, he tells his __________ friends!”
A. 106
B. 60
C. 600
D. 6,000
E. 6 million
Answer:
The term __________ is used to identify a group of people within an organization who
participate in the buying process and share common goals, risks, and knowledge
important to a purchase decision.
A. procurement committee
B. purchasing department
C. buying center
D. gatekeepers
E. acquisition office
Answer:
People to whom an individual looks as a basis for self-appraisal or as a source of
personal standards are referred to as
A. action-oriented consumers.
B. spokespersons.
C. opinion leaders.
D. social classes.
E. reference groups.
Answer:
Disney employed a(n) __________ marketing strategy for its Disneyland Paris,
particularly when it came to the eateries in the park. These restaurants featured recipes
that were revised for local tastes, alcoholic beverages (not permitted in previous parks),
and increased outdoor seating.
A. global
B. transnational
C. multidomestic
D. meganational
E. international
Answer:
Men who tried the Gillette Fusion razor were so satisfied with it that 60 percent of them
adopted the product permanently. Men who bought again are known as __________
purchasers.
A. repeat
B. preference
C. replicate
D. recurring
E. selective
Answer:
Taking stock of where the firm or product has been recently, where it is now, and where
it is headed in terms of the organization’s marketing plans and the external forces and
trends affecting it is referred to as __________.
A. tactical planning
B. market planning
C. goal setting
D. environmental scanning
E. situation analysis
Answer:
A small film company is releasing a documentary about the efforts of a group dedicated
to saving endangered species. However, the firm has few resources to promote the film.
Which promotional element should it employ?
A. Hire a salesperson to speak to environmental groups.
B. Ask local radio and television stations to run a favorable story about the film.
C. Advertise on billboards in each local market.
D. Invite students to participate in a contest to win free tickets.
E. Send postcards to all people within a 25-mile radius of a theater showing the movie.
Answer:
GI Designs, a copper furniture manufacturer, increased the price on its copper tabletops
by 20 percent for three months to see what the effect would be on its sales. The price
increase is the __________ in this three-month experiment.
A. control
B. dependent variable
C. independent variable
D. constraint
E. hypothesis
Answer:
Which buyer requirement would be most important in choosing a channel for a
financial service for a consumer who is interested in setting up a retirement account?
A. information
B. context
C. variety
D. pre- and postsale services
E. adaptation
Answer:
Pizza Hut’s young adult males seek more of the food they love with __________ in the
process.
A. nutritional value
B. a hassle-free eating experience
C. a great social experience
D. less time and cash invested
E. friendly environment
Answer:
Name Maker is an online company that sells high-end gift wrapping that can have
custom slogans or names printed on it, such as the name of a person celebrating a
birthday or a couple who is getting married. This made-to-order gift-wrapping is priced
from $24.95 to $32.95 per 12-foot roll. This is an example of
A. family branding.
B. mass customization.
C. synergistic marketing.
D. “Tiffany/Walmart” marketing.
E. specialty customization.
Answer:
Which of the following is an action the Federal Trade Commission (FTC) can take to
require a company to spend money to rectify previous misleading ads with revised
information?
A. corrective advertising
B. a cease and desist order
C. an advertising injunction
D. a truth in advertising order
E. comparative advertising
Answer:
Which of the following would be best used to forecast the opening weekend box office
sales for a new movie?
A. test screenings
B. demographic analysis
C. portfolio analysis
D. advanced promotions
E. tracking studies
Answer:
Which of the following statements regarding when and how to segment markets is most
accurate?
A. Even if a firm finds only one potential market segment, it should take advantage of
the method to appear cutting-edge to its competitors and customers.
B. Market segmentation only works for large corporations; small businesses don’t have
the resources to engage in the process.
C. Governments should not attempt market segmentation because the strategy is only
applicable for consumer and organizational markets.
D. If a business firm goes to the trouble and expense of segmenting its markets, it
expects to increase its sales, profits, and return on investment.
E. Market segmentation strategies work less than 10 percent of the time.
Answer:
Much of Google’s success is based on the ten guidelines of its corporate philosophy.
Guideline 1 states, “Focus on the __________ and all else will follow.”
A. prize
B. bottom line
C. user
D. seller
E. brand
Answer:
The three guidelines on marketing and promoting a brand using YouTube include: (1)
__________; (2) create a branded channel rich in key words to improve the odds of the
video showing up in user searches; and (3) target viewers by using YouTube’s insights
and analytics research to reveal the number of views, where they originate within
YouTube, and what key words are driving user visits.
A. use an expert to inform the audience about product features and benefits
B. tie the product to a current political or news event
C. include humorous content to attract as many viewers as possible
D. exploit visual aspects of your message, perhaps sacrificing product messages to tell a
more entertaining story
E. limit the video to one minute or less, the same as a TV or radio ad time limit
Answer:
Specialty products refer to
A. products for which there are no close substitutes.
B. products purchased for their prestige or high perceived value.
C. products a consumer will make a specific effort to search out and buy.
D. items for which the consumer compares several alternatives on several criteria such
as price, quality, or style.
E. items that the consumer does not know about or knows about but does not initially
buy.
Answer:
Figure 5-1
Based on Figure 5-1 above, what is the most likely industry sector represented by
NAICS code 51?
A. manufacturing
B. fisheries
C. information
D. publishing
E. retailing
Answer: