Figure 2-7
Quadrant C in Figure 2-7 above represents a(n) __________ in a SWOT analysis.
A. Threat
B. Weakness
C. Strength
D. Opportunity
E. Market segment
Answer:
In the context of a supply chain, customer service refers to
A. adhering to the belief that the customer is always right.
B. satisfying the customers’ needs no matter what the price.
C. accepting full liability if a product fails to meet a customer’s expectations.
D. the ability of logistics management to satisfy users in terms of time, dependability,
communication, and convenience.
E. the ability of logistics management to satisfy users in terms of product, price,
promotion, and place.
Answer:
One of Toyota’s top goals has been to develop advanced vehicle technologies to
complement existing ones. The G21 vision arose out of this goal, which eventually led
to the production of which of the following vehicles?
A. Lexus 450 all-electric car
B. Toyota Tundra gas-electric hybrid truck
C. Scion iQ micro-subcompact compressed natural gas car
D. Toyota Prius gas-electric hybrid car
E. Toyota Camry hydrogen fuel cell hybrid car
Answer:
Demand factors refer to
A. the number of consumers who can afford to purchase a product or service.
B. the price that should be charged for a given product.
C. consumers’ willingness and ability to pay for products and services.
D. the number of consumers who want to purchase a product.
E. the number of consumers who can purchase a product.
Answer:
Recent research indicates that a salesperson’s __________ to be customer-oriented
exists.
A. VALS profile
B. country of origin
C. genetic predisposition
D. education
E. social class
Answer:
Facebook is
A. a website where users may create a personal profile, add other users as friends, and
exchange comments, photos, videos, and likes with them.
B. a website that enables users to send and receive tweets, messages up to 140
characters long.
C. a business-oriented website that lets users post their professional profiles to connect
to a network of businesspeople.
D. a video-sharing website in which users can upload, distribute, view, and comment on
videos.
E. a virtual content-sharing social network that allows people to share images of their
favorite things such as clothing, craft ideas, and recipes as well as enables them to
categorize these images.
Answer:
Which of the following statements concerning cause marketing is most accurate?
A. The vast majority of consumers say they will switch to a brand that supports a good
cause, provided the price and quality of the brands are equal.
B. The profits generated by cause marketing are usually based in “goodwill” rather than
actual revenue.
C. The positive effects of cause marketing are significant during the promotion, but they
lose their benefit almost immediately after the promotion runs its course.
D. Cause marketing rarely creates a point of difference for the firm that engages in this
marketing practice.
E. Women are much more suspicious about the sincerity of cause marketing programs
than men; therefore, their contributions are significantly less.
Answer:
Retailing that occurs outside a retail outlet, such as through direct marketing, direct
selling, and automatic vending, is referred to as __________.
A. limited-line retailing
B. nonstore retailing
C. scrambled merchandising
D. a hypermarket
E. intertype competition
Answer:
Figure 16-5
A business hopes to generate large online sales through posting ads on social
networking sites but only wants to pay when an ad actually generates a sale. That firm
should use the performance measure of
A. cost per thousand, and pay $0.50 for every time an ad loads, up to $100 per month.
B. a negotiated measure, and pay $100 to post their ad for two weeks.
C. cost per click, and pay $0.50 for every visitor who clicks on the ad and goes to their
website.
D. cost per action, and pay $50 for every purchase that originated from an ad on the
site.
E. cost per like, and pay $1.00 for every unique visitor who likes the advertised product.
Answer:
One advantage of direct investment when entering a new global market is that
A. intermediaries have the potential to harm the brand.
B. the firm entering the foreign market does not have to pay royalties to the
government.
C. the company forgoes control over its product.
D. the firm gains and uses a better understanding of local market conditions.
E. this method is likely to provide the fewest subsidies from the host country’s
government.
Answer:
Figure 4-3
In Figure 4-3 above, column A represents which of the following in terms of consumer
involvement and product knowledge?
A. consideration set
B. routine problem solving
C. limited problem solving
D. extended problem solving
E. integrated problem solving
Answer:
Personal selling begins with the __________ stage.
A. lead
B. presentation
C. preapproach
D. prospecting
E. follow-up
Answer:
Southwest Airlines operates five flights daily between Chicago and Phoenix during the
winter. One flight leaves Phoenix at 12:10 p.m. The plane, a Boeing 737, has a capacity
of 120 passengers. During the past month, the flight has averaged 24 passengers, a load
factor of only 20 percent. Once the plane takes off, the empty seats generate no revenue
for the airline for that flight. What unique aspect of services does this situation
describe?
A. incongruity
B. intangibility
C. inconsistency
D. inseparability
E. idle production capacity
Answer:
Integrating the service component of the marketing mix with efforts to influence
consumer demand is referred to as __________.
A. customer management
B. internal marketing
C. product management
D. capacity management
E. seven Ps of services marketing
Answer:
The U.S. Commerce Department imposed additional duties of 31 percent to 250 percent
on imported photovoltaic products imported by Chinese solar manufacturers after ruling
that they sold them below cost. The Commerce Department took this action in response
to what it saw as __________.
A. tariff avoidance
B. countertrade
C. surplus marketing
D. underbidding
E. dumping
Answer:
Your local Target retailer carries a variety of different items. You can find everything
ranging from socks and DVDs to baby items and groceries. This is an example of the
__________ carried by Target.
A. breadth of product line
B. depth of product line
C. variety of brand extension
D. breadth of product class
E. product mix
Answer:
Timing is an important element of markdowns. Those retailers who take a markdown as
soon as sales fall off are most likely doing so to __________.
A. placate dissatisfied customers
B. enhance customer perceptions of product quality
C. free up valuable selling space and cash
D. create an image as a cutting edge retailer
E. react to the entry of a new competitor
Answer:
An announcement that Apple has just introduced a new version of its iMac personal
computer is an example of which type of publicity tool?
A. lobbying
B. events management
C. disclosure statement
D. news release
E. public service announcement
Answer:
A reorder of an existing product or service from a list of acceptable suppliers is referred
to as a
A. new buy.
B. straight rebuy.
C. modified rebuy.
D. standard reorder.
E. make-buy.
Answer:
Direct-mail and catalog retailing are examples of __________.
A. nonstore retailing
B. intertype retailing
C. online retailing
D. print-media retailing
E. dual retailing
Answer:
Which of the following statements regarding Gatorade’s branding is most accurate?
A. Gatorade uses the same formula for all its products and simply changes the brand
name when introducing new flavors.
B. Gatorade’s success can be attributed to management’s decision to find and then stick
with one channel of distribution.
C. Gatorade changed its color, packaging, and size of items in the product line for the
domestic market so that they would not conflict with those marketed to foreign markets.
D. Gatorade has used the same packaging since the product debuted in 1965.
E. Gatorade has changed its product formulation, packaging, and advertising over the
years in response to changes in the marketplace.
Answer:
The element of the marketing mix that describes a means of communication between
the seller and buyer is known as
A. a product.
B. promotion.
C. the price.
D. the place or distribution.
E. advertising.
Answer:
Methods for obtaining nonpersonal presentation of an organization, product, or service
without direct cost, such as news releases, news conferences, and public service
announcements, are referred to as
A. promotional strategies.
B. cooperative advertising.
C. public promotions.
D. market-oriented promotions.
E. publicity tools.
Answer:
A restaurant that offers food made exactly to each customer’s preference is providing
__________ utility.
A. time
B. place
C. possession
D. form
E. process
Answer:
The process of having the sender transform an idea into a set of symbols during the
communication process is referred to as __________.
A. decoding
B. encrypting
C. message formation
D. advertising
E. encoding
Answer:
After qualifying by having seen at least six movies in the last year, members of tracking
studies for a new movie are asked three key questions, one of which is __________
A. How much would you be willing to pay for a ticket?
B. Will you be seeing the movie with someone else? If so, with whom?
C. In your own words, what is the premise of the movie?
D. Will you see the film this weekend?
E. If you like the movie, what is the probability that you will purchase it when it is
released on a DVD?
Answer:
The relationship between the interactive communication capabilities of the Internet and
customization is that
A. a highly interactive and individualized information and exchange environment is
created for shoppers and buyers.
B. it helps customers reduce their search costs and more conveniently find the offerings
with the desired features.
C. it protects online consumer privacy about the customized products and services they
desire.
D. it records users’ visits to websites, which enhances online consumers’ convenience in
future visits by suggesting offerings that may be of interest to them when they access
the site.
E. it reduces costs and wasted coverage both for the buyer and seller.
Answer:
When a firm offers a very low price on a product to attract customers to a store, and
once in the store, the customer is persuaded to purchase a higher-priced item, the
practice is referred to as
A. predatory pricing.
B. deceptive pricing.
C. price discrimination.
D. caveat emptor.
E. bait and switch.
Answer:
The system that provides common industry definitions for Canada, Mexico, and the
United States, which makes it easier to measure economic activity in the three member
countries of the North American Free Trade Agreement (NAFTA), is referred to as the
A. Standard Industrial Code System (SICS).
B. United Nations Central Product Classification System (UNCPCS).
C. National Codes of Industry System (NCIS).
D. North American Industry Classification System (NAICS).
E. Federal System of International Organizations (FSIO).
Answer:
In the hierarchy of effects, the consumer’s actual first purchase and use of the product or
brand is referred to as the __________ stage.
A. adoption
B. evaluation
C. awareness
D. interest
E. trial
Answer:
Elizabeth has decided to purchase a new electric juicer and plans to call several friends
for the latest information about alternative brands. She is not concerned about where
she buys it as long as she receives a very liberal return policy should anything go
wrong. In making her decision, Elizabeth will engage in which of the following
problem solving variations?
A. limited problem solving
B. extended problem solving
C. routine problem solving
D. alternative problem solving
E. integrated problem solving
Answer:
A feature-rich, micro-blogging platform that allows users to share text, photos, music,
links, videos, and more is
A. Tumblr.
B. Flickr.
C. Vimeo.
D. Pinterest.
E. StumbleUpon.
Answer: