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Which of the following wholesaler's channel functions is demonstrated when a
wholesaler holds inventories and thereby reduces inventory holding costs and risks of
suppliers and customers ?
A) financing
B) transporting
C) buying and assortment building
D) warehousing
E) bulk breaking
Which of the following abilities would LEAST likely be measured when recruiting and
testing applicants for a sales position?
A) sales aptitude
B) organizational skills
C) accounting skills
D) analytical skills
E) personality traits
Managers at the Imperial Hotel-Chicago complained that the chain's overall image was
hurt because Imperial Hotel-Dallas was overcharging guests and providing poor
service. The Imperial Hotel was experiencing ________ conflict.
A) equilateral
B) vertical
C) multitiered
D) communal
E) horizontal
Trusted Wholesalers is a company that currently purchases products made in Mexico
and sells them to companies based in the United States and Canada. Trusted
Wholesalers is considering whether to also purchase products produced in Costa Rica
and the Dominican Republic. To make their decision, members of management at
Trusted Wholesalers will most likely evaluate the agreements made by ________.
A) the EU
B) NAFTA
C) CAFTA-DR
D) MCAN
E) UNASUR
Alden Manufacturing produces small kitchen appliances-blenders, hand mixers, and
electric skillets-under the brand name First Generation. Alden attempts to target
newlyweds and first-time home buyers with this brand.
Considering that most young households have limited financial resources, Alden
attempts to engage in target costing. "In doing this," says Milt Alden, the co-founder of
Alden Electronics, "we have better control over keeping price right in line with
customers."
Alden manufactures a three-speed blender, its top seller, along with a five-speed
blender. The hand mixers are manufactured in two variants-a small handheld mixer with
two rotating beaters and another that comes with an optional stand and an attached
mixing bowl. Alden's temperature-controlled skillets are manufactured in a single style
with three color options.
"Our product offerings are narrower," Milt Alden added, "but our line workers know
each product like the back of their hands. This allows us to produce superior products
while holding our prices low.
Milt Alden uses which of the following strategies for pricing his products?
A) basing company price on competitors' prices
B) using everyday low pricing
C) initiating an aggressive promotional campaign
D) starting with customer-value considerations
E) focusing on overall fixed costs of manufacturing
Through ________, a service firm orients and motivates its customer-contact
employees and supporting service people to work as a team to provide customer
satisfaction.
A) service inseparability
B) social marketing
C) service variability
D) internal marketing
E) corporate image marketing
Although more price-conscious than other population segments, ________ consumers
tend to be strongly motivated by quality and selection, and give importance to brands.
A) lower upper
B) African American
C) Asian American
D) Filipino
E) working class
Herb Marks built his enterprise on the faithful patronage of four specialty shops and a
large contract from Elmore Distributors. But after two years, the maker of novelty pens
and pencils had to rethink his strategy when his contract with Elmore ended.
Herb built a company reputation on the manufacturing and distribution of a variety of
wooden writing utensils with customized engravings. Specialty shops loved to display
the products in their fancy, lighted showcases, but such specialty shops alone were not
profitable. Herb Marks established a brand name, known merely as Marks, and decided
to expand on it.
Herb extended his writing utensil lines to include quills, felt-tip pens, and
multiple-cartridge pens that write in different colors. He even added a line of various
grades of personalized stationery and business cards. Perhaps Herb's biggest added
touch, however, was the addition of two salespeople who would work to explain the
diverse array of products offered by Marks, as well as nurture existing accounts.
"We make an excellent product," Herb Marks stated, "and we honor a good guarantee
on everything we sell. But let's face it-we face hundreds of competitors! We need Marks
representatives out there to help prospects understand what they should demand in
something as simple as a writing tool."
The Marks brand was fast-becoming synonymous with top-notch customer service. Part
of the purchase package brought personal visits from the Marks representative, before
the purchase and long after.
Which type of product does Marks manufacture?
A) industrial
B) convenience
C) specialty
D) shopping
E) unsought
Which of the following is a major element of developing an advertising strategy?
A) selecting advertising media
B) using sophisticated statistical models
C) setting advertising objectives
D) evaluating advertising campaigns
E) setting the advertising budget
________ are goods offered either free or at low cost as an incentive to buy a product,
ranging from toys included with kids' products to phone cards and DVDs.
A) Coupons
B) Premiums
C) Price packs
D) Rebates
E) Cents-off deals
________ are designed to engage consumers in interactions that will move them closer
to a direct purchase or other marketing outcome.
A) Online magazines
B) Marketing Web sites
C) Search engines
D) Digital catalogs
E) Podcasts
Which of the following was designed to help foster trade between nations?
A) tariffs
B) GATT
C) exchange controls
D) quotas
E) nontariff trade barriers
Brands in a market with many competitors and high advertising clutter must ________.
A) have very high prices compared to competitors
B) be advertised only through print and social media
C) be advertised more heavily to be noticed in the marketplace
D) never be advertised using informative advertising
E) be advertised only during the mature stage of the product life cycle
The purpose of ________ is to ensure that the company achieves the sales, profits, and
other goals set out in its annual marketing plan.
A) benchmarking
B) operating control
C) strategic control
D) SWOT analysis
E) a marketing audit
People cannot focus on all of the stimuli that surround them each day. A person's
tendency to screen out most of the information to which he is exposed is called
________.
A) subliminal retention
B) selective distortion
C) cognitive dissonance
D) selective attention
E) cognitive inertia
Which of the following is a primary reason that companies use e-learning to conduct
sales training programs?
A) Customer needs and habits can be unambiguously conveyed through online training
programs.
B) Sales training programs that do not use e-learning are mostly ineffective.
C) E-learning eliminates employee attrition.
D) E-learning is the best way to simulate real-life sales calls.
E) E-learning cuts travel and training costs.
